Tim Hortons, the iconic Canadian fast-food chain, may be headed for a merger with U.S. giant Burger King.
The two companies issued a joint statement Sunday, saying they hope to form a new corporation, based in Canada, that would continue to operate at stand-along brands.
The merger would create the third-largest quick-service restaurant provider in the world, with 18,000 outlets world-wide and $US22-billion in sales.
Founded in 1964 by NHL hockey great Tim Horton and a partner, Jim Charade, the Oakville, Ontario-based Canadian company listed 3,588 restaurants in Canada, 859 in the U.S. and 38 in the Persian Gulf region at the end of 2013
Founded in Florida in 1954, Burger King is the world’s second-largest fast food hamburger chain with more than 12,900 locations in 86 countries and territories.
In addition to the 94 corporate stores in Canada, the chain has about 200 franchise locations across the country.
Tim Hortons is well-known for its coffee, a high-margin area where U.S. fast food companies have fought to grab market share.
Burger King focuses mainly on hamburgers and has spent most of its existence playing second-fiddle to McDonalds.
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