[News Inside Business] Canadian Coffee Powerhouse 'Tim Hortons' That Even Starbucks Couldn't Surpass

"If the United States has Starbucks, Canada has Tim Hortons."

Tim Hortons, opening its first store in Korea on the 14th, is a coffee and donut franchise representing Canada, also known as "Tims" or "Timmys."

In 1964, Canadian ice hockey player Tim Horton debuted his namesake donut shop in Hamilton, Ontario. The franchise grew through a partnership with retired Hamilton police officer Ron Joyce. Although store expansion was slow initially, the number of stores increased significantly after merging with the American fast-food company Wendy's in 1995.

Later, in 2006, it spun off and returned to being a Canadian company, but in August 2014, private equity firm 3G Capital, which owns the American fast-food company Burger King, acquired Tim Hortons for $11 billion, making it a Canada-U.S. joint ownership. Warren Buffett, chairman of Berkshire Hathaway and known as an "investment genius," attracted attention by providing $3 billion of the acquisition funds. At that time, Buffett, who supported the Obama administration's "wealth tax," faced difficulties due to the investment in Tim Hortons. After Burger King merged with Tim Hortons and moved its headquarters from Miami, U.S., to Canada, where the corporate tax rate is lower, it was criticized for "tax inversion."

After acquiring Tim Hortons, 3G Capital changed its name to RBI (Restaurant Brands International Inc.) and has been actively expanding overseas. Tim Hortons currently operates over 5,700 stores in 17 countries. Korea is the seventh Asian country to enter after China, India, Pakistan, the Philippines, Thailand, and Singapore.

Signature menu items include the "Double Double," coffee concentrate with two shots of sugar and cream added; the "Iced Capp," coffee concentrate blended with ice; and the "French Vanilla," a blend of French vanilla and milk.

This content was produced with the assistance of AI translation services.