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Tim Hortons is owned by Restaurant Brands International (RBI). RBI was formed on December 15, 2014, when Burger King and Tim Hortons merged, and it trades as QSR on the Toronto and New York stock exchanges. Its largest shareholder is 3G Capital, which held about 22% of RBI's common shares in August 2026.
Who Owns Tim Hortons Today?
Restaurant Brands International owns 100% of the Tim Hortons brand. RBI is a public company, so no single person owns Tim Hortons. Thousands of shareholders own RBI, and a board of directors runs it.
Tim Hortons is one of four chains in the RBI family. Josh Kobza has been RBI's chief executive since March 2023, and J. Patrick Doyle is executive chairman. Axel Schwan runs the brand day to day as President, Tim Hortons Canada & U.S., a role he has held since October 2019.
The Four Brands RBI Owns
RBI had 33,156 restaurants worldwide on June 30, 2026, spread across more than 120 countries and territories. Tim Hortons is the second-largest of its four brands by restaurant count.
| Brand | Joined RBI | Restaurants (June 30, 2026) |
|---|---|---|
| Burger King | 2014 (founding brand) | 19,933 |
| Tim Hortons | 2014 (founding brand) | 6,209 |
| Popeyes | 2017 | 5,468 |
| Firehouse Subs | 2021 | 1,546 |
| RBI total | — | 33,156 |
Tim Hortons also generated US$8.25 billion in global system-wide sales in 2025, according to RBI's annual report.
Who Owns Restaurant Brands International?
3G Capital, a Brazilian-founded investment firm, is RBI's largest shareholder. In an August 10, 2026 SEC filing, its holding company, 3G Restaurant Brands Holdings LP, reported 99,157,902 exchangeable units. That works out to 22.1% of RBI's common shares.
3G's stake has shrunk a lot since the merger. It held about 47% of the voting power in 2014 and 26% by December 2024. The rest of RBI belongs to public shareholders, including large pension funds, mutual funds and Canadian banks.
Did Warren Buffett Own Tim Hortons?
Not directly, and not any more. Warren Buffett's Berkshire Hathaway helped finance the 2014 Burger King deal and later held a small stake in RBI. It had sold all of it by August 2020.
How Did Tim Hortons End Up Owned by RBI?
Tim Hortons has changed hands three times since its founding. Each move took it further from the founder's family and closer to a global, publicly traded parent.
| Year | What happened | Owner afterward |
|---|---|---|
| 1964 | Hockey player Tim Horton and Jim Charade open the first store in Hamilton, Ontario, on May 17 | Founders |
| 1967 | Ron Joyce becomes Tim Horton's business partner | Horton and Joyce |
| 1974 | Tim Horton dies; Joyce buys the family's shares for $1 million | Ron Joyce |
| 1995 | Wendy's International merges with Tim Hortons' parent, TDL Group, on August 8 | Wendy's |
| 2006 | IPO on March 24 at C$27 a share; Wendy's spins off the rest on September 24 | Public shareholders |
| 2014 | Burger King deal announced August 26 (US$11.4 billion); RBI formed December 15 | Restaurant Brands International |
The Wendy's Years (1995 to 2006)
Wendy's owned Tim Hortons for about 11 years. It sold shares to the public in March 2006. By September 2006 it had spun off the rest, and Tim Hortons became a stand-alone public company again.
The 2014 Burger King Merger
Burger King, which 3G Capital controlled, agreed to buy Tim Hortons on August 26, 2014, for about US$11.4 billion. The combined company, Restaurant Brands International, started trading on December 15, 2014. The deal was a tax inversion: Burger King's parent moved its legal home to Canada.
Is Tim Hortons Still Canadian?
Tim Hortons is still a Canadian-founded, Canadian-headquartered brand, but its owner is an international public company. RBI is a Canadian corporation headquartered in Toronto, though its SEC filings list its principal executive office in Miami. Its biggest investor, 3G Capital, is Brazilian-founded.
Some rules were written into the 2014 deal. RBI had to keep significant employment at Tim Hortons' Oakville headquarters and keep Canadians on at least 30% of the Tim Hortons board. Today Tim Hortons' head office is at 130 King Street West in Toronto.
What Does Canadian Ownership Look Like at the Restaurant Level?
Most Tim Hortons restaurants are owned by local franchisees, not by RBI. RBI's 2025 annual report says over 95% of its restaurants system-wide are franchised. When you buy a double-double, the owner of that restaurant is usually a local business owner who pays royalties to Tim Hortons.
That split shows up in the 2026 growth plan. Tim Hortons plans about 80 new Canadian restaurants and 400 renovations in 2026. RBI is putting in about $130 million, and franchisees are adding another $270 million.
Who Owns Tim Hortons Outside Canada?
RBI owns the brand everywhere, but local partners usually run it outside North America. RBI reported 1,646 international Tim Hortons restaurants in 21 countries and territories at the end of 2025. Like the rest of the system, they are almost all franchised, so local business partners open and run the stores.
The U.S. works like Canada. RBI reports the U.S. and Canada together as one Tim Hortons segment, with 4,570 restaurants on June 30, 2026. For the U.S. side, see our guide to Tim Hortons in the U.S., or read how many Tim Hortons there are in Canada.
Frequently Asked Questions
Is Tim Hortons owned by Burger King?
Not exactly. Burger King and Tim Hortons are sister brands, and both are owned by Restaurant Brands International, the company created when they merged in 2014. Burger King does not own Tim Hortons directly.
Is Tim Hortons owned by an American company?
No. Its owner, Restaurant Brands International, is a Canadian corporation headquartered in Toronto. RBI also lists a principal executive office in Miami, and its shareholders include American, Brazilian and Canadian investors.
Who founded Tim Hortons?
NHL defenceman Tim Horton and Jim Charade founded Tim Hortons in Hamilton, Ontario, on May 17, 1964. Ron Joyce became Horton's partner in 1967 and took control after Horton died in 1974.
Does 3G Capital own Tim Hortons?
Only indirectly. 3G Capital is the largest shareholder of Restaurant Brands International, with about 22.1% of its common shares in an August 2026 filing. RBI in turn owns Tim Hortons.
Who is the CEO of Tim Hortons?
Tim Hortons does not have its own CEO. Axel Schwan leads the brand as President, Tim Hortons Canada & U.S. Josh Kobza is CEO of the parent company, Restaurant Brands International.
When did Wendy's own Tim Hortons?
Wendy's International owned Tim Hortons from its August 8, 1995 merger with TDL Group until 2006. It took Tim Hortons public in March 2006 and spun off its remaining stake that September.
How much did Burger King pay for Tim Hortons?
The 2014 deal valued Tim Hortons at about US$11.4 billion. Canadian reports at the time put it at about C$12.5 billion. It was announced on August 26, 2014 and created Restaurant Brands International that December.
Where is Tim Hortons' head office?
Tim Hortons' head office is at 130 King Street West in Toronto, Ontario. The brand moved its head office into Toronto's Exchange Tower in 2018.
Can I buy shares in Tim Hortons?
You cannot buy Tim Hortons shares on their own. You can buy shares of its parent, Restaurant Brands International, which trades under the ticker QSR on the Toronto Stock Exchange and the New York Stock Exchange.
Are Tim Hortons restaurants owned by franchisees?
Yes, almost all of them. RBI says more than 95% of its restaurants are franchised. Independent owners run the stores and pay royalties to Tim Hortons.
Does Warren Buffett own Tim Hortons?
No. Berkshire Hathaway helped finance the 2014 merger and held a stake in RBI for several years. It had sold all of that stake by August 2020.
What other restaurants does Tim Hortons' owner have?
Restaurant Brands International also owns Burger King, Popeyes (since 2017) and Firehouse Subs (since 2021). The four brands had 33,156 restaurants worldwide on June 30, 2026.
This is an independent, unofficial guide. It is not affiliated with, endorsed by, or sponsored by Tim Hortons or Restaurant Brands International. Restaurant counts and sales come from RBI's 2025 annual report (Form 10-K) and its June 30, 2026 quarterly filings. 3G Capital's stake comes from its Schedule 13D/A amendment filed August 10, 2026. The 2026 expansion figures come from The Globe and Mail (May 22, 2026), and the history comes from public records summarised on Wikipedia. Ownership stakes change as shares trade. See Sources.