Tim Hortons

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."

Former Supervalu and Canadian Tire executive Wayne Sales was named to the board of directors at Toys “R” Us to fill a position vacated by Michael Calbert.

Calbert had served on the Toys “R” Us board since 2005 and the company noted his departure did not involve any disagreement. Calbert also serves on the board of Dollar General and earlier this year resigned from KKR & Co.

New York -- Retailers making headlines with store expansion plans include new players as well as global powerhouses. Just in the starting gate is Fresh Thyme Farmers Market, a new specialty grocery format featuring value-priced healthy and organic offerings. The company plans to open over 60 stores throughout the Midwest during the next five years.

Oakville, Canada – Tim Hortons is unveiling a strategic four-year growth plan for 2014-2018 called “Winning in the New Era.” The plan, which has specific segments for the Canada, U.S., and international markets, includes the opening of 300 new U.S. locations by 2018.

NORTHFIELD, Ill. — Kraft is gearing up for the New Year with more than 40 new food and beverage choices for consumers.