Burger King to Acquire Tim Hortons and More Industry News

Contributor
A roundup of this week’s food industry financial news

Photo Sasabune Omakase Modified: Flickr/erin/CC 4.0

The burger chain confirmed that it will acquire Tim Hortons for $11.4 billion.

This week in industry news, Burger King confirmed that it will acquire Tim Hortons for $11.4 billion, Zoe’s Kitchen Inc.’s profit jumped 164.5 percent in the second quarter, and McDonald's USA president Jeff Stratton announced his retirement after 41 years with the brand.

Read on for more of this week's biggest financial news in the world of food.

 

Earnings

Zoe’s Kitchen Inc.: In the second quarter, the company’s profit jumped 164.5 percent, and same-store sales rose 7.5 percent.

Bob Evans Farms Inc.: The company suffered a $1 million loss in profit in its first quarter.

 

Leadership Change

Photo Credit: Flickr/Mike Mozart

McDonald's Corporation: McDonald's USA president Jeff Stratton announced his retirement after 41 years with the brand. Former McDonald's executive Mike Andres will take his place, effective October 15.

Teriyaki Madness: The company named Michael Haith as CEO, succeeding co-founder Rod Arreola, who will continue to oversee development of the fast food chain.

 

Mergers/Acquisitions

Burger King Worldwide Inc.: The burger chain confirmed that it will acquire Tim Hortons for $11.4 billion.

Buffalo Wild Wings Inc.: As it continues to buy into emerging brands, Buffalo Wild Wings made a majority investment in Rusty Taco Inc. Terms of the investment were not disclosed.

Inclusion Technologies L.L.C.: The company acquired assets of AnaCon Foods Co., including a 30,000-square-foot manufacturing facility in that will serve as its headquarters.

Have the inside scoop on a merger or acquisition? Know of a new advertising campaign around a new iconic product? We’re always looking to get ahead of the game, so email us your tips.

Haley Willard is The Daily Meal's assistant editor. Follow her on Twitter @haleywillrd.

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