We have been following the transaction of Burger King and Tim Hortons. Did you know that our beloved Tim Hortons is now a Brazilian Company. Conservative estimates are that between $300 and $500 million will flow out of the country into the bank accounts of an investment corporation half a world away?
Minister Moore has committed to minimum job loss. It took less than a month before the layoffs have started. For those not up to speed. Here are the details.
Conditions include Canadian headquarters and no job cuts
In a statement, Industry Minister James Moore said Burger King agreed to the following conditions:
- To keep 100 per cent of Tim Hortons employees at franchises across Canada and to preserve all of Tim Hortons' charitable work.
- To accelerate the opening of new Tim Hortons restaurants in the U.S. and globally.
- To establish the headquarters of the new company in Oakville, Ont., and to list the company on the Toronto Stock Exchange.
- To manage Tim Hortons as a distinct brand, without co-branding of any locations in Canada or in the U.S.
- To maintain the Canadian franchisee rent and royalty structure at current levels for five years.
- To ensure Canadians represent at least 50 per cent of the membership of the Tim Hortons brand board.
We will continue to monitor the situation and keep you posted. Let's see of the Honorable Minister will keep his word and take the new owners to task.
Posted on: 2015-01-29 12:00 AM 
