Issuer

Tim Hortons Inc.

Consumers

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Summary

Tim Hortons Inc. is the largest publicly traded restaurant chain in Canada, with over 4,300 restaurants across Canada and in parts of the United States and the Gulf Cooperation Council (as at June 30, 2013). It is also one of the most franchised restaurant systems in North America (over 99% of its locations are franchises). Tim Hortons Inc. performs all the coffee buying for its roasting plants and operates centralized fondant manufacturing facilities.