Tim Hortons

Berkeley, Calif. - Cheryl Hughes has joined Andronico’s Community Markets as CFO. Recently appointed CEO Suzy Monford leads the all-female team.

Hughes formerly held the role of controller for Chemoil, a global oil trading organization. Prior to this role she was CFO at Pacific Convenience & Fuels based in Pleasanton. Her career in food and retail dates back to her 15-year stint as director of U.S. Finance with Circle K Stores Inc.
 

Oakville, Canada — The proposed merger between Tim Hortons Inc. and Burger King Worldwide Inc. has been approved by the Minister of Industry under the Investment Canada Act ("ICA"). The companies have set the deadline for registered shareholders of Tim Hortons or Burger King Worldwide to make an election by Dec. 9, with the assumption the proposed merger will occur Dec. 12.

Chicago -- The strategic merits of Burger King Worldwide's leveraged buy-out of Tim Hortons Inc. will be tested by Monday's enactment of tightened U.S. Treasury tax rules on U.S. companies seeking to re-domicile their headquarters in countries with more favorable tax systems, according to Fitch Ratings. The new regulation is meant to reduce the attractiveness of inversions and is effective immediately.

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.  

New York -- Burger King Worldwide is in discussions to buy Canadian coffee and doughnut chain Tim Hortons. The two companies said in a joint statement on Monday that the new publicly listed entity would be based in Canada. The move comes as the White House is calling on Congress to take steps to prevent U.S. companies from moving outside the country (“tax inversions”).

The two restaurant companies are currently worth a combined total of about $18 billion, according to media reports.

Oakville, Canada – The omnichannel Tim Hortons Duelling Donuts contest kicks off July 7 and at the end of seven weeks, the creator of the next Tim Hortons menu item will be crowned — and they'll win $10,000. New this year, eight finalists will have the opportunity to defend their donut ideas in person to a panel of famous Canadians — Jason Priestley, Jann Arden, Anna Olson and Ben Mulroney.

Toronto – Tim Hortons and Canadian Imperial Bank of Commerce (CIBC) are launching the new CIBC Tim Hortons Double Double Visa Card, leveraging a two-button technology that allows cardholders to press the CIBC Visa button on the front of the card to pay for their purchases anywhere Visa is accepted. One percent of each dollar spent is converted instantly into Tim Cash rewards, and by touching the Tim Card button, cardholders can then redeem their Tim Cash loyalty points at Tim Hortons locations.

Oakville, Canada – Tim Hortons is launching the TimmyMe app for Windows 8 devices. Unique to the TimmyMe App on Windows 8 phones is the addition of voice recognition software, which allows users to launch the mobile barcode payment screen on their TimmyMe app by saying, "TimmyMe pay."