Tim Hortons announces new Toronto headquarters

Tim Hortons announces new Toronto headquarters
After 50 years in Oakville, Tim Hortons is moving its head office
The sign of a Tim Hortons is pictured in downtown Kingston, Ont., on Nov. 18, 2015. (The Canadian Press/Lars Hagberg)

TORONTO — Tim Hortons is moving its headquarters from Oakville, Ont. to downtown Toronto.

TIM HORTONS®, part of Restaurant Brands International, is one of North America’s largest restaurant chains operating in the quick service segment. Founded as a single location in Canada in 1964, TIM HORTONS® appeals to a broad range of consumer tastes, with a menu that includes premium coffee, hot and cold specialty drinks (including lattes, cappuccinos and espresso shots), specialty teas and fruit smoothies, fresh baked goods, grilled Panini and classic sandwiches, wraps, soups, prepared foods and other food products. As of September 30, 2015, TIM HORTONS® had more than 4,700 system wide restaurants located in Canada, the United States and the Gulf Cooperation Council. More information about the Company is available at www.timhortons.com.

The fast food company says it will relocate to a 6000 square-metre space in the Exchange Tower in the citys financial district.

“This major metropolitan environment will provide a platform for us to further expand our leadership in Canada by bringing us closer to our business partners and the people on the front lines of tomorrows industry trends,” said Alex Macedo, President of TIM HORTONS®. “This change is another part of our journey to build a stronger TIM HORTONS® and will enable us to harness the power of technology and innovation to better serve our Guests and Restaurant Owners for years to come.”

Tim Hortons president Alex Macedo says the move will bring it closer to business partners, enable it to better use technology to serve customers and help it keep abreast of industry trends.

OAKVILLE, ON, April 17, 2018 /CNW/ – TIM HORTONS® announced today that later this year the TIM HORTONS® head office and Global Restaurant Support Centre will be relocating to downtown Toronto. The new headquarters will be located in the Exchange Tower. The 65,000-square-foot space will feature a fresh, modern work environment that will foster collaboration and connectivity and serve as the new home for our TIM HORTONS® employees.

Macedo says all 400 employees at the Oakville headquarters will be transferred to the Toronto location at the end of the year.

TIM HORTONS® has been proud to call Oakville home for many years, so this decision was not one we have taken lightly. The town of Oakville has been incredibly supportive of us as weve grown over the last 50+ years and we will always be grateful. But, as we look at our bold plans for the future of TIM HORTONS®, downtown Toronto comes up as an ideal setting for us as we continue to evolve to meet the needs of our Guests.

The company will continue to house its "Tims University" training centre in Oakville.

Macedo says the move is a "very exciting moment" for the company, which has been located in Oakville for more than 50 years.

Our focus on innovation labs, idea sharing and creativity will be core to our new space as will exciting new efforts such as our planned, exclusive speaker series. This commitment to training and investing in our employees will ensure we continue on our journey to build a stronger TIM HORTONS® for our Guests and Restaurant Owners.

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"Consumer trends are changing very fast. We want to remain an innovative company," he says. "We want to be able to react to guest changing behaviours so we thought being positioned in Toronto would allow us to do that."

Burger King was the one last quarter that had the big same-store-sales [increase], up 4.6 per cent, said Newman, who owns the stock personally and on behalf of client. Tim Hortons and Popeyes [Louisiana Kitchen] have suffered a little bit, but we believe the strategies theyve used to execute so well on Burger King, theyre going to use in the other two areas.

According to Macedo, employees at the headquarters were pleased with the news.

The analyst community seems to share Newmans faith in managements ability to right the ship, with the equivalent of 15 buy ratings on the stock, five holds and not a single sell recommendation. On average, the 20 analysts who cover the stock see it hitting $89.37 per share in 12 months, implying 20 per cent upside.

He says half live in Toronto and half reside outside the city, but all of them are excited about how the move will help the brand evolve.

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The driver of a bus carrying the Kansas City Royals sustained minor injuries after a chunk of ice came flying through the windshield on the Gardiner Expressway early Monday morning, Toronto police said.

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Tim Hortons to relocate home offices to Toronto

Tim Hortons is moving its Canadian headquarters to downtown Torontos Exchange Tower after more than 50 years in Oakville.

The story will play out, it will ultimately hit a bottom, itll get just too cheap and investors will start to take notice and probably their next earnings report, I think all things being equal, might be a catalyst, he said.

The change that will affect all 400 head office employees is expected to take place by the end of the year and is part of a corporate modernization plan, said president Alex Macedo on Monday.

“We want to make sure our company, our brand, remains very contemporary. We want to be a more innovative company so that we can continue to fuel the growth not only for the brand, but for our restaurant owners,” he said on Monday.

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Calling the move, “a very significant investment,” Macedo said the company expects the downtown location will help “provide better marketing plans, launch more appetizing products and make sure we get more guests into the restaurants.”

Tims will occupy about 65,000 sq. ft. on the third floor and fourth floors of the 36-storey Exchange building at King and York Sts.

The fast food company says it will relocate to a 6,000 square metre space in the Exchange Tower in the citys financial district.

The company has been headquartered in Oakville since it opened its first restaurant in 1964 and it will retain “a significant presence” there with its Tims University training centre for franchisees and managers, said Macedo. But the fate of its existing building, near Dorval Dr. and the QEW — a former warehouse that was adapted to an open concept office — has not yet been determined.

Macedo says all 400 employees at the Oakville headquarters will be transferred to the Toronto location at the end of the year.

About half of the head office staff live in the Oakville area, the other half commute there from Toronto. The new location is convenient to GO Transit and the TTC and is connected to Torontos underground PATH. Macedo said Tim Hortons employees will be fully supported in the move and the companys innovation efforts.

Macedo says the move is a “very exciting moment for the company, which has been located in Oakville for more than 50 years.

“Were going to take advantage of everything Toronto has to offer to make sure our employees are happy about the move. Were going to train them in innovation, were going to train them in culinary, were going to train them in everything thats very easily available in Toronto that perhaps they cant find in Oakville,” he said.

“Ultimately, I think everyone will understand that the main reason that were going out there is to understand what our guests want so we can provide for them as quickly as possible,” said Macedo.

Last month, Tim Hortons announced it was renovating its stores with lighter, “natural looking” exteriors and upgraded interiors with open concept seating and photo walls that feature its coffee sourcing and blending.

Macedo was appointed to head up the brand last December after earning a reputation for rescuing strained franchisee relations at Burger King, another brand owned by Tims parent company, Restaurant Brands International (RBI).

Some Tim Hortons store owners — those belonging to a group called the Great White North Franchise Association — have lately complained that RBI, part of Brazilian parent 3G Capital, is mismanaging the business by downloading costs onto franchisees and introducing cost-cutting measures that lower the restaurant standards.

Macedo said he has no update on an announcement last week by the federal government that it would investigate franchisee concerns that RBI had fallen short of its commitments under the Investment Canada Act in 2014.

About 1,800 of Tim Hortons 4,000 Canadian stores are located in Ontario.

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