Iconic Canadian coffee brand will ditch U.S. parent company

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TORONTO - Considering that many Canadians practically bleed Tim Hortons coffee on any given workday, it may come as a surprise to some that the much-beloved chain is once again returning its home base to Canada.

Didn't know Tims has actually been registered in the United States for years? That's easy to forgive, considering just how deeply ingrained the brand has become in the Canadian consciousness.

But it is true that the house built on the doughnut and double-double was for nearly 15 years - a result of its purchase by U.S. burger chain Wendy's - registered far away in Delaware.

Parent company Tim Hortons Inc. (TSX:THI) announced yesterday it has filed documents in the United States that would shift its corporate ownership back north of the border. Its current Canadian headquarters is in Oakville, Ont., west of Toronto.

The company says the move - which it had said it was considering earlier this year - will save on taxes and make international expansion easier.

It certainly won't hurt its image with Canadians either, because the famous chain is probably the country's most-treasured brand. Although it will have virtually no impact at all on its storefront operations, the announcement was well received by Tims fans.

Tim Hortons, founded in the mid-'60s by Hamilton-born hockey legend Tim Horton, became part of Wendy's in 1995, forging a partnership led by Wendy's founder Dave Thomas that saw the restaurants sit side-by-side at many locations.

After Thomas' died in 2002, the two companies started to drift apart, with the doughnut chain choosing to focus on sandwiches and other breakfast and lunch options. The concept clashed with offerings from the Wendy's brand.

In 2006, the company was spun off into its own American entity, though its corporate headquarters remained in Oakville and most of its stores are in Canada.