The move has proved controversial, however, with Burger King confirming its intention to establish the new company's headquarters in Canada.
Critics have lambasted the fast-food chain for moving abroad in an attempt to secure lower tax rates like many other American companies.
The tax debate has been widely reported but the sheer success of Tim Hortons has been overlooked by many. The Canadian chain made $3.26 billion in revenue in 2013, almost tripple that of Burger King.
This chart shows the revenue and stores of selected coffee/restaruant chains worldwide in 2013.
Tim Horton's managed to do that with just under 5,000 units worldwide, compared to Burger King's 13,600.