NEW YORK (AP) — Burger King and Tim Hortons parent company Restaurant Brands International reported a loss for its fourth quarter, dragged down by costs related to the deal to combine the two chains.
For the period ended Dec. 31, it said it lost $514.2 million, or $2.52 per share. A year ago, it earned $66.8 million, or 19 cents per share.
Revenue was $416.3 million, boosted by new locations and sales gains at established restaurants for both Burger King and Tim Hortons. A year ago, revenue was $265.2 million.
3G Capital bought Burger King in 2010. The chain then said it was buying Tim Hortons last year. As with Burger King, 3G sees potential to turn Tim Hortons into a more global brand by striking franchising deals around the world.