Tim Hortons Canadian again

Coffee giant Tim Hortons Inc. is returning its home base to Canada with a plan to reorganize and convert to a Canadian-based corporation.

The popular coffee house chain (TSX: THI) is currently owned by a U.S.-based parent company after its spinoff from U.S.-based burger giant Wendy’s in 2007.

Tims says the reorganization will save money due to Canada’s lower tax rates and make international expansion easier.

The move will create a Canadian subsidiary with which Tims will merge, creating a company incorporated under the Canada Business Corporations Act.

Tim Hortons shareholders will hold the same amount of stock as before, and the company will continue to operate under the Tim Hortons name with stock listings on the TSX and the New York Stock Exchange. The chain has struggled to boost sales in the United States despite thriving in Canada.



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s