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72-731: On August 28, 2023, Pegula Sports and Entertainment was dissolved, with the Bills and Sabres to be operated as "separate organizations" according to Terry Pegula. Pegula will remain owner and president of both franchises. In 2011, following the liquidation of assets from his East Resources natural gas company, Pegula purchased the Buffalo Sabres and the Buffalo Bandits from former owners Tom Golisano and Larry Quinn taking control of their holding company Hockey Western New York, LLC for $ 189 million. On May 17, 2011, Pegula purchased

144-538: A 30-year history of aggressive cost cutting, which could hurt Tim Hortons employees, small-businesspeople, Canadian taxpayers, and consumers." The deal was approved by Minister of Industry James Moore (of the governing Conservative Party of Canada ) on December 4, 2014: The two companies agreed to Moore's conditions, requiring that the Burger King and Tim Hortons chains retain separate operations and not combine locations, maintain "significant employment levels" at

216-771: A kiosk in what's now the Desert Diamond Arena (where the former Arizona Coyotes of the NHL used to play) in Glendale, Arizona. On March 5, 2014, The Arizona Coyotes announced that as of March 10, 2014, the Tim Hortons stand would be open to the public from 9:00 to 15:00, seven days a week. This location is the first Tim Hortons in Arizona. A flagship Tim Hortons location within the Buffalo area opened across from

288-521: A large parking garage, retail, and restaurants including a Sabres themed Tim Hortons and a Marriott hotel. The building mostly opened in November 2014 with the rinks, restaurants and parking garage was fully completed and fully opened in August 2015 with the completion and opening of the hotel and retail. On September 10, 2019, Pegula Sports and Entertainment reached a 10-year naming rights agreement for

360-873: A new café/bake shop concept in at least 10 existing U.S. locations, including "enhanced finishes, fixtures, and seating areas" as well as an expansion of menu offerings. In 2010, Tim Hortons opened what were then its northernmost locations: three kiosks at NorthMart stores in Iqaluit, Nunavut . This expanded Tim Hortons' presence in every province and territory of Canada. According to Nick Javor, senior vice-president of corporate affairs at Tim Hortons, "You could say it's overdue. If we can be in Kandahar , why can't we be in Iqaluit?" In December 2011, Tim Hortons opened its 4,000th restaurant. In 2012, Tim Hortons Inc. recorded its total revenues at $ 3.12 billion (CDN). Initially,

432-425: A new global customer base." On October 30, 2014, various media covered a Canadian Centre for Policy Alternatives study which suggested that Burger King's proposed takeover of Tim Hortons is "likely to have overwhelmingly negative consequences for Canadians." This study analyzed Burger King's private equity owner, 3G Capital, and past takeovers of Burger King, Heinz , and Anheuser-Busch , and declared that "it has

504-548: A new naming rights deal with Highmark Blue Cross Blue Shield of Western New York and the stadium became Highmark Stadium . Pegula also brought stadium rock concerts back to the stadium after over a decade of absence. On March 28, 2022, It was announced that a deal had been reached between New York State, Erie County and the Pegulas for a 62,000 seat, $ 1.4 Billion dollar new stadium for the Bills in Orchard Park across

576-792: A new publicly traded company, also named "Tim Hortons Incorporated", incorporated under the Canada Business Corporations Act . The change was being made primarily for tax purposes. On September 28, 2009, Tim Hortons Inc. announced it had completed the reorganization of its corporate structure to become a Canadian public company. In November 2010, Tim Hortons extended Interac debit payment system acceptance to most of its stores. The company previously began accepting Interac in its stores in Western Canada in 2003 and, later, MasterCard and MasterCard PayPass across most of its stores in 2007. The company often indicated

648-729: A plan to add 82 locations in Tops Markets stores in the United States. On July 13, 2009, Tim Hortons opened stores in New York City at former Dunkin' Donuts locations operated by the Riese Organization . One of the stores is at Madison Square Garden , where Horton played as a member of the New York Rangers from 1969 to 1971. In November 2010, Tim Hortons announced it was closing 36 stores in

720-590: A rise to $ 4.15 billion in 2016. Tim Hortons had 683 U.S. locations by the end of 2016, and total annual revenue of US$ 3.00 billion. In April 2018, Tim Hortons announced that they would be moving their head office along with its 400 employees to the Exchange Tower in downtown Toronto. In May 2018, the Reputation Institute reported that Tim Hortons had fallen from 13th to 67th in its study of Canada's most reputable companies, as "one of

792-738: A test to eventual expansion into Pittsburgh (their closest locations at that point were in the Wheeling, West Virginia/Steubenville, Ohio area) as well as Pittsburgh Penguins star Sidney Crosby having a longtime sponsorship with the chain as well. In addition, Horton played for the Maple Leafs American Hockey League affiliate, the Pittsburgh Hornets , earlier in his career as well as the Penguins for one season in 1971 to 1972. Aramark , which operated

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864-448: A two floor sports themed restaurant which serves as the main business tenant of Harborcenter. In 2021, the Pegulas sold the restaurant to Southern Tier Brewing Company. Russ Brandon served as the organization's President from shortly after the company's acquisition of the Bills until his resignation in May 2018. This was followed by the departure of several other high-ranking executives over

936-516: Is Canada's largest quick-service restaurant chain , with 5,701 restaurants in 13 countries, as of September 2023 . The company was founded in 1964 in Hamilton, Ontario by Canadian ice hockey player Tim Horton (1930–1974) and Jim Charade (1934–2009), after an initial venture in hamburger restaurants. In 1967, Horton partnered with investor Ron Joyce , who assumed control over operations after Horton died in 1974. Joyce expanded

1008-1093: Is at Camp Adzai in Latvia. Tim Hortons originally was concentrated in Ontario and Atlantic Canada. However, the chain has expanded its presence into Quebec and western Canada. Its location in Iqaluit , Nunavut, was the northernmost store as of 2010. Its location in Pond Inlet , Nunavut is the northernmost store as of 2023 . TDL Group recorded $ 1.48 billion in sales in 2005. Tim Hortons also operates locations on Canadian and American university campuses, including Brock University, Durham College, Georgian College, Algonquin College, Canisius College, York University, Toronto Metropolitan University, University at Buffalo, SUNY Plattsburgh, University of British Columbia, Memorial University of Newfoundland, University of Western Ontario, and Simon Fraser University. In March 2010, Tim Hortons announced further expansion on both sides of

1080-558: Is symbolic of the founding of the Sabres in 1970. In 2013, it was announced that all 80 luxury suites would be renovated over a three-year period. All suites now feature the Sabres blue and gold color scheme, 50" televisions, new carpeting, new furniture and gathering islands. Construction began on this project in July 2013. In 2016, a new LED lighting system was installed and allowed the arena to provide better lighting while significantly reducing

1152-660: Is the strong recommendation to all the Quebec restaurants from the TDL Group Corporation that they post menu boards in both English and French in accordance with the standards being enforced by the Office québécois de la langue française . In 1992, the owner of all Tim Hortons and Wendy's restaurants in Prince Edward Island , Daniel P. Murphy, decided to open new franchise outlets for both brands in

1224-777: The Adirondack Mountains town of St. Regis Falls, New York and Terra Mare, a restaurant in Fort Lauderdale, Florida . The company holds a marketing partnership with Sear, a Buffalo steakhouse co-owned by Bills alumni Fred Jackson , Terrence McGee and Brian Moorman . Also under the Pegula umbrella is IMPACT Performance Cycle & Yoga , two high performance athletic training facilities which are based in Boca Raton, Florida and LECOM Harborcenter in Buffalo. The Pegulas own retail merchandiser ADPRO Sports which

1296-731: The Grand Rapids, Michigan region. In 2012, Tim Hortons began advertising in the Youngstown, Ohio , area in anticipation of an eventual expansion into the Mahoning Valley . The closest location at the time was in Calcutta, Ohio , about 50 miles south of Youngstown. The chain entered the area in July 2012 with the opening of a location in Hermitage, Pennsylvania. This location has since closed, but Tim Hortons would return to

1368-674: The KeyBank Center (then First Niagara Center) at the LECOM Harborcenter complex on October 29, 2014. In 2016, Tim Hortons expanded to Minnesota with a store inside Mall of America . However, this location is closed. In 2017, the chain announced an expansion to Northeast Ohio with 105 stores to come to the greater Cleveland area. The first of these opened in the Ellet neighborhood of Akron in July 2019. In 2020, Tim Hortons partnered with Bolla Market to open "15 to 20 over

1440-701: The Marcellus Formation and development of the hydraulic fracturing ("fracking") recovery process. At the height of the company it was based in Parkersburg, West Virginia with additional offices in Warrendale, Pennsylvania , Allegany, New York , and Denver, Colorado , with natural gas processing facilities in Northern Pennsylvania. East Resources sold most of its assets to Royal Dutch Shell in 2010 for $ 4.7 billion and

1512-553: The National Hockey League , from 1949 until his death in an auto crash in 1974. The first Tim Horton restaurant was in North Bay, Ontario , and sold hamburgers. The chain's first donut store opened on May 17, 1964, in Hamilton, Ontario under the name Tim Horton Donuts. The name was later abbreviated to "Tim Horton's" and then changed to "Tim Hortons" without the possessive apostrophe. Soon after Horton opened

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1584-855: The Rochester Americans of the American Hockey League from the Rochester Sports Group that had previously owned the team and reaffiliated the Americans with the Sabres on June 24 of that year. Pegula purchased the Americans for US$ 5 million. In 2014, Terry and Kim Pegula placed the winning bid to purchase the Buffalo Bills , beating out a stalking-horse bid from Donald Trump and a bid led by Jon Bon Jovi backed by owners of Maple Leaf Sports & Entertainment . The $ 1.4 billion, all-cash purchase

1656-537: The S&;P/TSX Composite Index , and to the S&P/TSX 60 . As of March 2006, Tim Hortons commanded 76% of the Canadian market for baked goods (based on the number of customers served) and held 62% of the Canadian coffee market (compared to Starbucks , in the number two position, at 7%). On June 29, 2009, Tim Hortons Inc. announced that, pending shareholder approval, the chain's operations would be reorganized under

1728-512: The 2014 purchase of the Buffalo Bills by the Pegulas. Through a partnership with Southern Tier Brewing Company , PSE launched a "One Buffalo" branded craft beer that sells at all Pegula-owned properties and elsewhere in the region. The One Buffalo brand has also been extended to a flavor of Perry's Ice Cream and premium cupcakes, both formulated by Kim Pegula, a pronounced fan of desserts. The company formerly owned 716 Food and Sport ,

1800-772: The Bandits are owned primarily by Terry, while Kim, who grew up in Rochester, will have a larger role in operations over the Knighthawks). Pegula Sports and Entertainment operated Black River Entertainment , an independent country music label. The label features such acts as Kelsea Ballerini and Craig Morgan as well as the related Black River Publishing and Sound Stage Studio all under the Black River label based in Nashville, Tennessee . The company had control over

1872-769: The Canada–US border to be completed by 2013. The plan called for 600 new stores in Canada (primarily in Quebec and Western Canada but also including smaller communities) and 300 new stores in the U.S. (primarily in its existing markets of Michigan, New York, and Ohio). It also called for expansion into such non-standard store locations as hospitals, universities, and airports, as well as extending its co-branding initiative with U.S. ice cream chain Cold Stone Creamery , which began in 2009, to cover 60 Canadian stores and 25 to 35 new and existing U.S. stores. It also included testing

1944-554: The Detroit area were also purchased with the intention of being converted. By 2004, the chain had also acquired 42 Bess Eaton coffee and donut restaurants in southern New England. Several combination Wendy's/Tim Hortons units were opened in the US; both in the "traditional" markets of Maine and Buffalo, where there were well over 180 locations as of 2011, and in the markets entered through acquisition. In October 2008, Tim Hortons announced

2016-647: The Middle East, and 25 in the UK. As of August 2024 , Tim Hortons has 5,702 restaurants. Tim Hortons had a presence on a number of military bases, including Kandahar in Afghanistan, although this latter outlet was principally intended for Canadian Armed Forces and allied military personnel. Three more outlets were in military bases at Aberdeen Proving Ground, Maryland , Fort Knox, Kentucky , and Naval Station Norfolk, Virginia . The latest location

2088-475: The Oakville headquarters, and ensure that Canadians make up at least 50% of Tim Hortons' board of directors. Tim Hortons shareholders approved the merger on December 9, 2014; the two chains merged under the new parent company Restaurant Brands International (RBI), which began trading on December 15, 2014. According to CBC News, "how the government will enforce [Moore's] conditions is unclear." In May 2015,

2160-550: The Pegulas' purchase of the Beauts was the first time any outside investor had purchased a team in what is otherwise a single-entity league; all the other teams are centrally owned and operated. The team was returned to the league in 2019 with Kim Pegula quoted as saying “Our main goal has always been fostering the growth of women’s hockey across all ages.” “We thank our Beauts players, staff, and fans for their support this past season. We will continue to look for ways to successfully grow

2232-605: The Provincial and Federal authorities/watchdogs for illegally tracking massive amounts of location information from Canadian customers via the Tim Hortons App. It had tracked and recorded user movements, even when the app was not in use - a violation of Canadian privacy laws. On December 31, 2018, Tim Hortons had 4,846 restaurants in 14 countries, including 3,802 in Canada, 807 in the United States, 60 in Mexico, 29 in

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2304-545: The September quarter." On August 24, 2014, American fast-food chain Burger King announced that it was in negotiations to merge with Tim Hortons Inc; the proposed $ 18 billion mergers would involve a tax inversion into Canada, with a new holding company majority-owned by 3G Capital , and the remaining shares in the company held by current Burger King and Tim Hortons shareholders. A Tim Hortons representative stated that

2376-412: The Tim Hortons operations in an initial public offering, which was completed on March 24, 2006, and subsequently said it would spin-off to shareholders its remaining interest by the end of 2006. Wendy's cited increased competition between the two chains and Tim Hortons' increasing self-sufficiency as reasons for its decision, but the company had been under shareholder pressure to make such a move because of

2448-628: The U.S. stores were the result of natural expansion in Canada–U.S. border areas (e.g., stores in Maine and the Buffalo, New York area where Horton played from 1972 to 1974 as a member of the Buffalo Sabres ). The first United States locations were opened in Deerfield Beach, Florida and Pompano Beach, Florida in 1981, but they proved unsuccessful and were closed. In 1984, the chain returned to

2520-560: The U.S. with a location in Tonawanda, New York . Starting in the mid-1990s, however, the chain began expanding in the U.S. by acquiring former locations from fast-food chains. In 1996 and 1997, thirty-seven former Rax locations in Ohio , Kentucky , and West Virginia were bought by Wendy's International Inc.; 30 of these were converted to Tim Hortons, while the others became Wendy's franchise locations. Thirty-five closed Hardee's stores in

2592-496: The Western New York subchannel of the regional sports network MSG known as MSG Western New York which is on occasion also credited as Pegula Sports Network . The channel broadcasts all regional Buffalo Sabres games and Sabres content as well as Buffalo Bills content, local Buffalo radio sports show simulcasts, select Rochester Americans games, and high school football along with special programming. The channel replaced

2664-588: The announcement, the chain stated that it will concentrate its efforts on its core markets such as western Canada. In the same statement, the company announced the sale of its portion of distribution company Maidstone Bakeries to Tim Hortons' European partners. It will use the CA$ 400 ;million generated by the sale for a stock buyback . In 2010, Tim Hortons opened two kiosks at Consol Energy Center (now known as PPG Paints Arena) in Pittsburgh, partly as

2736-457: The apostrophe was interpreted by some to be breaking the language sign laws of the province of Quebec in 1993. The removal of the apostrophe allowed the company to have one common sign image across Canada. Although a number of Quebec locations have bilingual menu boards, the decision to have both Canadian official languages represented is left to the discretion of individual franchise owners. Some Quebec locations have French-only menu boards. It

2808-413: The building with Lake Erie College of Osteopathic Medicine (LECOM). The company was also the arena manager of KeyBank Center which is connected to LECOM Harborcenter. Since taking over management PSE has made many arena upgrades. After the 2011–12 Buffalo Sabres season , 380 seats were added to the arena, mainly as an additional row in the 200 level, to raise the arena's capacity to 19,070. This number

2880-620: The building's third and fourth floor. The restaurant, brew house and Labatt USA headquarters opened in November 2018, with the rest of the building completed in 2019. Bakery 55, a Pegula-owned baked goods provider, opened in the Labatt building in December 2018. On June 13, 2017, it was reported that the Pegulas had purchased a building at 118 Michigan Ave across from the Seneca Buffalo Creek Casino . On July 13, 2018, it

2952-421: The business, removing the primary emphasis on donuts, and continuing the expansion of the menu options as consumer tastes broadened. Some older locations retain signage with the company's name, including a possessive apostrophe, despite the fact that the official styling of the company's name has been Tim Hortons without an apostrophe for at least a decade. The company had removed the apostrophe after signs using

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3024-424: The chain in both geography and product selection. The 500th store opened in 1991. Joyce's aggressive expansion of the business resulted in major changes to the Canadian coffee and donut restaurant market. Many independent donut shops and small chains were driven out of business, while Canada's per-capita ratio of donut shops surpassed that of all other countries. The Horton and Joyce partnership carried on, with

3096-417: The chain into a multi-billion dollar franchise. Charade left the organization in 1966 and briefly returned in 1970 and 1993 through 1996. On August 26, 2014, Burger King agreed to merge with Tim Hortons for US$ 11.4 billion. The two chains became subsidiaries of Toronto-based holding company Restaurant Brands International on December 15, 2014. The business was founded by Tim Horton , who played in

3168-400: The company announced the closure of its U.S. headquarters in Dublin, Ohio ; in March 2015, it had 127 employees. In August 2016, Tim Hortons again changed presidents. In September 2016, Tim Hortons announced it would be expanding into the United Kingdom, with an unannounced number of locations to be built. Revenue in 2015 for Restaurant Brands International was US$ 4.0522 billion with

3240-441: The company at $ 65.50 per share, with existing shareholders receiving $ 65.50 in cash and 0.8025 shares in the new holding company: per-share—all-cash ($ 88.50) and all-shares (3.0879) options were also made available. The agreement planned to result in 3G Capital (which held a 71% majority stake in Burger King) holding a 51% majority stake in the new company, Tim Hortons' existing shareholders owning 22%, and Burger King's owning 27% with

3312-431: The course of the next year; Michael Gilbert and Nik Fattey left in December 2018, and Bruce Popko (chief operating officer, who after Brandon's departure was the highest ranking person in the organization who was not a member of the Pegula family), Brent Rossi (chief administrative officer who had replaced Gilbert), and Erica Muehlman (a senior vice president) were all fired in February 2019, with Kim Pegula indicating none of

3384-447: The delay of broader or wider electronic payment acceptance was to "ensure speed of service." In 2012, Tim Hortons began accepting Visa cards, and in 2013, began accepting American Express cards. In late 2013, Tim Hortons had "4,350 cafes across the world, out of which 3,500 are in Canada, 817 in the U.S. and 33 in the GCC . The Toronto Stock Exchange listed company recorded revenues of $ 794 million and net profit of $ 111 million in

3456-541: The initials of Pegula's children) in Pennsylvania. The remains of the company are based in Boca Raton, Florida . This article about a natural gas or petroleum-related company is a stub . You can help Misplaced Pages by expanding it . Tim Hortons Tim Hortons Inc. , known colloquially as Tim's , Timmies , or Timmy's , is a Canadian multinational coffeehouse and restaurant chain with headquarters in Toronto; it serves coffee , donuts , sandwiches , breakfast egg muffins and other fast-food items. It

3528-439: The kiosks, closed them in 2012, however Tim Hortons proceeded to open full-service locations in Pittsburgh and surrounding areas in July 2012. At the time of the entry into Pittsburgh, of the four NHL cities Horton played in (Buffalo, New York City, Toronto, and Pittsburgh), Pittsburgh was the only one without a Tim Hortons location, and was also where Horton met his future wife, Lori. In 2011, Tim Hortons aggressively expanded into

3600-399: The largest moves down of all 250 companies it analyzed this year'" and that the brand was "still considered to have a 'strong reputation.'" Beginning in October 2018, Tim Hortons began to install self-serve kiosks at some locations in Ontario. In February 2019, Tim Hortons began to spread the installation of the self-serve kiosks across Canada. In June 2022, Tim Hortons was investigated by

3672-402: The main MSG channel in 2016 on all cable systems across Western New York. PSE also owned PicSix Creative which serves as the company's in-house marketing, design, production and communications services firm. PicSix also accepts work from outside clients. The company was the owner and operator of LECOM Harborcenter , a $ 250 million hockey -themed building, which is anchored by the two rinks,

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3744-430: The market in the spring of 2019 with the opening of two locations, one in Youngstown and one in Girard, Ohio, though both would suddenly close within weeks of each other by the end of the year. As of 2012, the company had expanded across the U.S. states of Connecticut, Indiana, Kentucky, Maine, Massachusetts, Michigan, New York, Ohio, Pennsylvania, Rhode Island, and West Virginia. On January 7, 2014, Tim Hortons opened

3816-401: The marriage of Joyce's son, Ron Joyce Jr., and Horton's eldest daughter, Jeri-Lynn Horton-Joyce, who were joint owners of Tim Hortons franchises in Cobourg, Ontario until 2023 when the couple retired after 37 years. The company had originally been incorporated as Tim Donut Limited. By the 1990s, the company name had changed to The TDL Group Ltd. This was an effort by the company to diversify

3888-407: The new entity based in Oakville and listed on both the TSX and New York Stock Exchange . Per the agreement, Burger King CEO Daniel Schwartz became CEO of the company, with existing Tim Hortons CEO Marc Caira becoming vice-chairman and director; Burger King still operated out of its existing headquarters in Miami. It was announced the deal would form the third-largest fast-food restaurant company in

3960-424: The next 12 to 18 months" across Long Island. The stores are located inside gas stations. In 2022, Tim Hortons announced a planned expansion into Georgia and Texas. Over the next five years, it plans to open over 20 new stores in the Atlanta and Columbus, Georgia, areas plus greater Houston, TX & Nashville, TN . On April 4, 2023, Tim Hortons announced a new location in Prospect, Grand Cayman. This will be

4032-471: The northeastern United States due to high competition with New England–based Dunkin' Donuts and Au Bon Pain . The stores, which made less than half the average company per-store sales, were concentrated heavily in the areas around Providence, Rhode Island and Hartford, Connecticut , the former of which also has a concentration of stores from the locally competing Honey Dew Donuts chain, with some 150 outlets in Rhode Island and Southeastern Massachusetts . In

4104-428: The number of light fixtures needed and reducing energy consumption. As part of the company's purchase of the Buffalo Bills, the team took over as a manager of the team's Orchard Park stadium. Pegula overturned a longstanding policy of predecessor Ralph Wilson 's and sold the naming rights to the stadium to New Era Cap Company , naming the stadium New Era Field. After New Era ended the agreement early, Pegula signed

4176-425: The positions would initially be replaced. In April 2020, during the COVID-19 pandemic in New York (state) , an article from The Athletic by Tim Graham detailed and criticized PSE's termination of numerous employees in what was seen as a cost-saving measure, and also described "low morale" and a "toxic culture" within the Sabres and across the whole organization. East Resources East Resources , Inc.,

4248-434: The proposed merger would allow Tim Hortons to leverage Burger King's resources for international growth; the two chains would retain separate operations post-merger. News of the proposal caused Tim Hortons' shares to increase in value by 28 percent. On August 25, 2014, Burger King officially confirmed its intent to acquire Tim Hortons Inc. in a deal totaling CA$ 12.5 billion (US$ 11.4 billion). 3G Capital offered to purchase

4320-400: The rest to American Energy Partners, LP in 2014 for $ 1.75 billion. Pegula has shifted his focus to sports and entertainment properties, acquiring the Buffalo Sabres in 2011 and the Buffalo Bills in 2014. Pegula continues to own some natural gas assets through other companies, including Greater Rocky Mountain Regional Oil & Gas in Colorado and Wyoming, and JKLM Energy (named after

4392-423: The same building in the town of Montague. Murphy invited Joyce and Wendy's chairman Dave Thomas to the grand opening of the "combo store," where the two executives met for the first time. Murphy's success with combining coffee and donuts with Wendy's fast food led to the August 8, 1995, acquisition of and merger with TDL Group by Wendy's International, Inc ., an American company, which lasted until 2009. The sale

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4464-425: The store, he met Ron Joyce , a former police constable in Hamilton. In 1965, Joyce took over the fledgling Tim Horton Donut Shop at 65 Ottawa Street North. By 1967, after opening two additional stores, the two became full partners. Upon Horton's death in 1974, Joyce bought out the Horton family's shares for $ 1 million and took over as sole owner of the existing chain of 40 stores, quickly and aggressively expanding

4536-462: The street from the current stadium. New York State will contribute $ 600 million in funding with Erie County contributing $ 250 million, the Pegulas contributing $ 350 million and the National football league via a G-4 loan $ 200 million. In addition the Pegulas signed the Bills to a 30-year iron clad lease. The stadium would be owned by New York State, a change from the current stadium which is owned by Erie County and operated by PSE. On April 25, 2017, it

4608-441: The strength and profitability of the Tim Hortons brand. Shares of the company began trading on March 24, 2006, with an initial public offering of CA$ 27 per share, raising over $ 700 million in the first day of trading. On September 24, Wendy's spun off the rest of its shares in Tim Hortons by distributing the remaining 82% to its shareholders. On the same day, Tim Hortons was added to Canada's benchmark stock-market indicator,

4680-463: The women’s game.” In 2018, Pegula Sports & Entertainment reached an agreement to purchase the intellectual property of the Rochester Knighthawks of the National Lacrosse League in autumn 2019. Rochester Sports Group owner Curt Styres orchestrated the sale as he planned on moving his staff and roster to a new Halifax NLL team set to debut in the winter of 2020; the NLL does not have restrictions on ownership groups owning multiple teams (as it is,

4752-473: The world. On October 28, 2014, the deal was approved by the Competition Bureau of Canada, but had yet to be approved by Industry Canada . The Bureau ruled that the deal was "unlikely to result in a substantial lessening or prevention of competition." Former CEO Marc Caira reassured the integrity of Tim Hortons following the purchase, stating that the acquisition would "enable us to move more quickly and efficiently to bring Tim Hortons iconic Canadian brand to

4824-404: Was acquired from former majority owner Ron Raccuia on August 21, 2017. In addition PSE operates a restaurant in HarborCenter called Healthy Scratch , a brand owned and operated by the Pegulas' daughters, Kelly and Jessica Pegula , Jessica notably also being an internationally ranked tennis player. The company also controlled and managed the brand One Buffalo , a brand created by Kim Pegula after

4896-454: Was an oil and gas exploration and production company with a focus on unconventional shale oil and gas resources in the United States. The company was founded in 1983 by Terrence Pegula . Based in Cattaraugus County, New York through much of the late 20th century the company specialized in oil. In 2008, the company began focusing on natural gas through hydraulic fracturing. It profited heavily upon discovery of deep layers of natural gas in

4968-448: Was announced that Labatt USA and PSE had partnered on a project to develop the Pegula owned 79 Perry Street in the Cobblestone district in Buffalo into a mixed use facility to include a small test brewery called the "Labatt House", a restaurant called "The Draft Room" as well as retail, commercial and residential space. Labatt relocated its U.S. headquarters from Fountain Plaza to the building's second floor and PSE moved its headquarters to

5040-429: Was announced that the Pegulas had taken over the management of the AHL Americans arena Blue Cross Arena in Rochester from former operator SMG . Soon after the purchase, PSE was criticized for monopolizing Blue Cross Arena for its own teams and evicting other events from the arena by raising the price of rent to a level most other entities could not or were not willing to pay. The company also owned Deer Valley Trails in

5112-438: Was the highest price in NFL history to that point. The Bills had come up for sale earlier in the year after the team's founding owner, Ralph Wilson , died. Pegula Sports & Entertainment acquired the Buffalo Beauts of the National Women's Hockey League in December 2017. While not the first or only NHL owner to partner with an NWHL team (the New Jersey Devils and later the Minnesota Wild also had affiliation agreements),

5184-779: Was widely commented on in the media. In 1995, the Toronto Star had a column reflecting on Tim Hortons "selling out" to Wendy's with "the spectacle of another great Canadian icon...gone to Yankee burgerfat". Tim Hortons franchises spread rapidly and eventually overtook McDonald's as Canada's largest food service operator. The company opened twice as many Canadian outlets as McDonald's by 2005, and system-wide sales also surpassed those of McDonald's Canadian operations as of 2002. The chain accounted for 22.6% of all fast-food industry revenues in Canada in 2005. Under pressure from major investors Peter May and Nelson Peltz , in late 2005, Wendy's announced it would sell between 15% and 18% of

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