-
Burger King to buy Tim Hortons for $11.4 billion
Miami -- Burger King Worldwide agreed to buy Canadian quick-serve chain Tim Hortons for approximately $11.4 billion, creating the world’s third largest quick-serve restaurant company. Under a tax inversion deal, the corporate headquarters of the new company will be in Canada, where the combined company’s biggest market will be.
-
Bain Capital buys 50% stake in Toms; brand looks to expand
New York -- Toms, the footwear company best known for donating a pair of shoes to a child in need for every pair it sells, has sold a 50% stake in its company to private equity giant Bain Capital LLC. The investment will help Toms expand its distribution in Europe, Asia and in the United States, including increasing its store count from its current two locations.
The investment reportedly values Toms at about $625 million, including debt. Blake Mycoskie, who founded Toms in 2006, will retain a 50% stake and remain at the helm.