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Who Owns Tim Hortons in 2025? Exploring Ownership, Canadian Identity, and More

Tim Hortons is more than just a coffee shop. It’s a part of daily life in Canada—known for double-doubles, Timbits, and early-morning hockey runs. But in 2025, many people are asking: Who really owns Tim Hortons now? Is it still truly Canadian?

With over 5,700 locations around the world and a long history of mergers, the question of ownership has sparked ongoing debate. In this guide, we’ll break down who owns Tim Hortons in 2025, explore its Canadian roots, and explain what this means for everyday customers.

Who Owns Tim Hortons in 2025?

As of 2025, Tim Hortons is owned by Restaurant Brands International (RBI), a Canadian-based company headquartered in Toronto. RBI was formed in 2014 after a $12.5 billion merger between Tim Hortons and Burger King. This deal was led by 3G Capital, a Brazilian-American investment firm.

By the end of 2024, 3G Capital holds a 26% stake in RBI, down from 51% when the merger first happened. The rest is owned by major Canadian institutions like Toronto-Dominion Bank (TD), Bank of Montreal (BMO), Royal Bank, and the Canada Pension Plan Investment Board (CPP). These Canadian investors help keep RBI rooted in Canada.

RBI also owns Popeyes and Firehouse Subs, making it one of the top five largest fast-food companies in the world.

A Quick Timeline of Tim Hortons Ownership

  • 1964: Founded by NHL player Tim Horton and Ron Joyce in Hamilton, Ontario.
  • 1974: After Horton’s passing, Joyce became the sole owner.
  • 1995-2006: U.S.-based Wendy’s International bought Tim Hortons, then spun it off in 2006.
  • 2014: Merged with Burger King to form RBI.
  • 2025: RBI still owns Tim Hortons, with more Canadian influence as 3G Capital’s share decreases.

Is Tim Hortons Still Canadian-Owned?

Tim Hortons is not fully Canadian-owned, but it still has strong Canadian ties:

  • Headquarters: RBI is based in Toronto.
  • Ownership: 3G Capital owns 26%. Canadian banks and the CPP Investment Board own a large portion of the rest.
  • Franchisees: 99% of Tim Hortons stores in Canada are owned by Canadian franchisees, many of them family-run businesses.

While foreign investment is involved, the company’s base, employees, and stores remain deeply connected to Canada.

Is Tim Hortons Still a Canadian Brand?

Yes—but with some global influence.

Why It Feels Canadian:

  • You’ll still find Timbits, double-doubles, and maple leaf cups.
  • Stores support Tims Camps, Smile Cookie programs, and local events.
  • It’s a go-to stop for students, workers, and families across Canada.

What Makes It Global:

  • Tim Hortons now operates in 22 countries, including China and Panama.
  • Some decisions come from global executives, influenced by 3G Capital and RBI’s other brands.

Experts say Tim Hortons is still Canadian in identity, even if it’s globally owned.

How Ownership Affects Customers

Here’s what RBI’s ownership has changed:

  • Menu Updates: New items like flatbread pizzas, Dream Cookies, and all-day breakfast were added to boost sales.
  • Food Prep: Some locations switched to frozen donuts instead of baking fresh.
  • Profitability: In 2024, Canadian franchisees made $305,000 in average earnings, up from $220,000 in 2022.
  • Speed & Tech: Drive-thru wait times dropped to 28 seconds per car, and the Tims Rewards app now offers better deals.

What’s New at Tim Hortons in 2025?

  • New Stores: Expansion in Western Canada, rural areas, and Panama.
  • Growth in China: $45 million invested to grow Tim Hortons and Popeyes there.
  • More Deals: Tims Rewards now includes $1 Iced Capps and exclusive app discounts.
  • Digital Focus: Faster service and improved mobile ordering to boost convenience.
  • Supply Shift: Sourcing more items from Canadian suppliers due to global cost pressures.

Frequently Asked Questions

Who owns Tim Hortons in 2025?
Restaurant Brands International (RBI), with shares owned by 3G Capital, Canadian banks, and CPP Investment Board.

Has coffee quality changed since the merger?
Some customers say yes, but RBI has invested in improving taste and freshness since 2018.

Is it still a Canadian company?
Yes, it’s based in Toronto with mostly Canadian franchisees, but global ownership is part of the picture.

How does ownership affect store owners?
Changes in cost structure and renovations caused some challenges, but profits improved in recent years.

What can we expect in 2025?
More store openings, new menu items, faster service, and app-based deals.

Conclusion

In 2025, Tim Hortons is owned by Restaurant Brands International, a Canadian company with global investors. Although 3G Capital still plays a role, Canadian banks and the CPP Investment Board have strong influence. From a single shop in 1964 to 5,700+ locations today, Tim Hortons continues to grow.

Despite foreign ownership, its Canadian roots—local franchisees, national programs, and cultural traditions—remain strong. Whether you’re enjoying a double-double or trying something new, Tim Hortons still feels like home to millions of Canadians.

Mark Taylor
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I’m not affiliated with Tim Hortons or any of its official partners. This website is based on my personal experiences, visits, and research across various Tim Hortons locations in Canada. All the information shared here is for general reference and is meant to help fellow coffee and donut lovers make the most of their next visit. Thanks for reading—and enjoy your Tim's run!

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