On August 26, 2014, Burger King agreed to purchase Tim Hortons for US$11.4 billion;[10] the chain became a subsidiary of the Oakville-based holding company Restaurant Brands International on December 15, 2014, which is majority-owned by Brazilian investment firm 3G Capital.[11]
1992-95: Merger with Wendy's
A Tim Hortons/Wendy's joint restaurant in Markham, Ontario in 2015.
In 1992, the owner of all Tim Hortons and Wendy's Restaurants in Prince Edward Island, Daniel P. Murphy, decided to open new franchise outlets for both brands in the same building in the town of Montague. Murphy invited Joyce and Wendy's chairman Dave Thomas to the grand opening of the "combo store", where the two executives met for the first time and immediately established a rapport.[citation needed] Murphy's success with combining coffee and doughnuts with Wendy's fast food led to August 8, 1995 acquisition of and merger with TDL Group by Wendy's International, Inc., an American company.[18] Joyce became the largest shareholder in Wendy's, even surpassing Thomas. TDL Group continued to operate as a separate subsidiary from its head office in Oakville, Ontario, although Joyce eventually retired from active management to pursue other interests.
