UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 24, 2014
TIM HORTONS INC.
(Exact
name of registrant as specified in its charter)
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Canada |
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001-32843 |
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98-0641955 |
(State or other jurisdiction
of incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
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874 Sinclair Road, Oakville, ON, Canada |
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L6K 2Y1 |
(Address of principal executive offices) |
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(Zip Code) |
(905) 845-6511
(Registrants telephone number, including area code)
Not Applicable
(Former
name or former address, if changed since last report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01 Regulation FD
On August 24, 2014, Tim Hortons Inc. confirmed that they are in discussions with Burger King Worldwide Inc. regarding a potential transaction. A copy of
the press release is furnished as Exhibit 99.1 hereto and is incorporated by reference herein.
The information set forth in this Item 7.01,
including Exhibit 99.1 attached, is being furnished and shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the
liabilities of that section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act.
Item 9.01 Financial Statements and Exhibits.
99.1 |
Press release of Tim Hortons Inc., dated August 24, 2014. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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TIM HORTONS INC. |
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Date: August 25, 2014 |
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By: |
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/s/ Jill E. Sutton |
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Jill E. Sutton |
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Executive Vice President, General Counsel and Secretary |
Exhibit 99.1
Tim Hortons and Burger King confirm talks regarding
potential strategic transaction
OAKVILLE, ON, and MIAMI,
FL, Aug. 24, 2014 /CNW/In response to media reports, Tim Hortons Inc. (THI: TSX; NYSE) and Burger King Worldwide Inc. (BKW: NYSE) today confirmed that they are in discussions regarding the potential creation of a global leader in the quick
service restaurant business. The new publicly-listed company would be headquartered in Canada, the largest market of the combined company.
3G Capital, the
majority owner of Burger King, will continue to own the majority of the shares of the new company on a pro forma basis, with the remainder held by existing shareholders of Tim Hortons and Burger King. 3G Capital and its affiliates have a
demonstrated track record of managing international expansion of iconic brands around the globe.
Within this new entity, Tim Hortons and Burger King
would operate as standalone brands, while benefiting from shared corporate services, best practices and global scale and reach. A key driver of these discussions is the potential to leverage Burger Kings worldwide footprint and experience in
global development to accelerate Tim Hortons growth in international markets.
The new company would be the worlds third-largest quick service
restaurant company, with approximately $22 billion in system sales and over 18,000 restaurants in 100 countries worldwide. Tim Hortons and Burger King each have strong franchisee networks and iconic brands that are loved by their respective
consumers. Any transaction will be structured to preserve these relationships and deepen the connections each brand has with its guests, franchisees, employees and communities.
The transaction remains subject to negotiation of definitive agreements. There can be no assurance that any agreement will be reached or that a transaction
will be consummated.
Tim Hortons and Burger King do not intend to comment on this matter further unless and until a transaction is agreed or discussions
are discontinued, and specifically disclaim any obligation to provide further updates to the market.
Tim Hortons Inc. Overview
Tim Hortons is one of the largest publicly-traded restaurant chains in North America based on market capitalization, and the largest in Canada. Operating in
the quick service segment of the restaurant industry, Tim Hortons appeals to a broad range of consumer tastes, with a menu that includes premium coffee, hot and cold specialty drinks (including lattes, cappuccinos and espresso shots), specialty teas
and fruit smoothies, fresh baked goods, grilled Panini and classic sandwiches, wraps, soups, prepared foods and other food products. As of June 29, 2014, Tim Hortons had 4,546 systemwide restaurants, including 3,630 in Canada, 866 in the
United States and 50 in the Gulf Cooperation Council. More information about the Company is available at www.timhortons.com.
About Burger King
Worldwide
Founded in 1954, BURGER KING® (NYSE: BKW) is the second largest fast food hamburger
chain in the world. The original HOME OF THE WHOPPER®, the BURGER KING® system operates in over 13,000 locations serving more than
11 million guests daily in 98 countries and territories worldwide. Approximately 100 percent of BURGER KING® restaurants are owned and operated by independent franchisees, many of them
family-owned operations that have been in business for decades. To learn more about Burger King Worldwide, please visit the companys website at www.bk.com or follow us on Facebook and Twitter.
Forward-Looking Statements
This press release includes forward-looking statements, which are often identified by the words may, might,
believes, thinks, anticipates, plans, expects, intends or similar expressions and include statements regarding (1) expectations regarding whether a transaction will be
consummated or, if consummated, whether the new company will benefit from shared best practices, and (2) expectations that the new company can leverage Burger Kings worldwide footprint and experience in global development to accelerate
Tim Hortons growth in international markets. These forward-looking statements may be affected by risks and uncertainties in the business of Burger King and Tim Hortons and market conditions. This information is qualified in its entirety by
cautionary statements and risk factor disclosure contained in filings made by Burger King and Tim Hortons with the U.S. Securities and Exchange Commission, including Burger Kings annual report on Form 10-K for the year ended December 31,
2013 and Tim Hortons annual report on Form 10-K for the year ended December 29, 2013. Both Burger King and Tim Hortons wish to caution readers that certain important factors may have affected and could in the future affect their actual results
and could cause their actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of Burger King or Tim Hortons. Neither Burger King nor Tim Hortons undertakes any obligation
to update forward-looking statements to reflect events or circumstances after the date hereof.
SOURCE Tim Hortons
For further information: Tim Hortons Inc.: Media & Investor Contact, Scott Bonikowsky, SVP, Corporate, Public & Government Affairs,
(905) 339-6186, bonikowsky_scott@timhortons.com; Burger King Worldwide: Media, Brunswick Group, Steve Lipin / Radina Russell, (212) 333.3810; Miguel Piedra, Mediainquiries@whopper.com, (305) 378-7277; Investors, Sami Siddiqui,
Investor Relations, (305) 378-7696; investor@whopper.com