A Burger King sign and a Tim Hortons sign are displayed in Ottawa, Ontario, Monday, Aug. 25, 2014. (USA Today)
Ohio Democrat Sherrod Brown is calling for a boycott against Burger King after the fast food giant bought out Tim Hortons Inc. The new headquarters will be in Canada where the company will pay lower corporate taxes.
CBS Local reported:
Burger King says it struck a deal to buy Tim Hortons Inc. for about $11 billion, a move that would give the fast-food company a stronger foothold in the coffee and breakfast market.
The corporate headquarters of the new company will be in Canada, which stands to help lower Burger King’s corporate taxes. Such tax inversions have been criticized by President Barack Obama and Congress because they mean a loss of revenue for the U.S. government. Burger King and Tim Hortons said the chains will continue to be run independently and that Burger King will still operate out of Miami.
The deal would create the world’s third largest fast-food company with about $23 billion in sales and more than 18,000 locations, the companies said.
Sen. Sherrod Brown, D-Ohio, is calling for a boycott of Burger King.
“Burger King’s decision to abandon the United States means consumers should turn to Wendy’s Old Fashioned Hamburgers or White Castle sliders. Burger King has always said ‘Have it Your Way’; well my way is to support two Ohio companies that haven’t abandoned their country or customers,” Brown said in a statement. “To help business grow in America, taxpayers have funded public infrastructure, workforce training, and incentives to encourage R&D and capital investment. Runaway corporations benefited from those policies but want U.S. companies to pay their share of the tab.”