The deal to marry Burger King with Tim Hortons through a $12.5 billion merger promises to create a fast-food powerhouse, headquartered in Canada.
Controlled by Brazilian investment firm 3G Capital, which bought Burger King for $4 billion U.S. in 2010, the combined company would boast more than 18,000 restaurants in more than 100 countries and generate some $23 billion in annual system sales, making it the world’s third largest quick service restaurant operator.
But while executives reassure investors that the deal is all about corporate synergies and international growth—not Burger King seeking a more favourable Canadian corporate tax rate—it’s not immediately clear how the operational advantages will be realized given how little overlap exists between the two chains.
Below is a map that shows all the Burger King (yellow) and Tim Hortons’ (red) restaurants in the U.S. and Canada.
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