The new owner of Tim Hortons is committed to bringing double-doubles and Timbits to consumers around the world, but says expansion plans will likely take some time to get off the ground.

“I think we have big hopes and we do want to accelerate the pace of growth at Tim’s all around the world in the coming years,” said Restaurant Brands International Inc. chief financial officer Josh Kobza during a conference call with analysts as earnings results were released Tuesday.

Restaurant Brands is the newly formed parent company of Tim Hortons and Burger King.

Shares jumped $3.90 to close Tuesday at $52.15 in Toronto, up 8 per cent.

“But it is a process that will take time, much as it did at Burger King,” Kobza said, noting that it took about a year after Burger King’s acquisition by Brazil’s 3G Capital before the first new joint venture was set up.

In 2010, 3G Capital bought Burger King, and took it public in 2012.

Last year, Burger King added 705 new restaurants including outlets in France, South Africa and India. It operates in about 100 countries, and since December, for the first time, more than half of its restaurants are outside the United States.

“What’s going to define success in this transaction for Restaurant Brands International is growth,” said Daniel Schwartz, chief executive officer of Restaurant Brands.

“And that’s what this deal has been about from the beginning,” said Schwartz during the same conference call.

“It’s all about the growth and our ability to take Tim Hortons all around the world and to expand in the U.S.”

Tim Hortons added 180 net new restaurants in 2014, or just over 4 per cent unit growth. It operates more than 4,600 locations, mostly in Canada and the United States with limited operations in the Middle East.

Both fast-food restaurant chains reported sales growth in the fourth quarter, but the company took a whopping $514.2 million (U.S.) loss related to the Tim Hortons deal and associated restructuring costs.

Schwartz emphasized that the strategy for Tim Hortons is unchanged — they are the same goals Tim Hortons had set for itself. They include “lead, defend and grow” in Canada, “win” in the United States, and “expand and grow” overseas.

Comparable store sales were up 4.1 per cent for Tim Hortons, while Burger King comparable sales were up 3.0 per cent on a constant currency basis.

Tim Hortons said the introduction of dark roast coffee and the crispy chicken sandwich helped boost its sales. It is also focusing on selling more combos to increase the value of average sales.

At Burger King, chicken fries, an extra long barbecue cheeseburger and A1 ultimate bacon cheeseburger were credited with driving sales and traffic.

Schwartz emphasized Tim Hortons and Burger King will remain independent brands with separate management, with no plans to share real estate, marketing or even menu items.

However, executives have said that there may be synergies for “back of house” corporate functions such as IT, human resources and legal departments.

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During the conference call, Kobza confirmed the elimination of 350 positions in January at Tim Hortons.

“I think it’s part of broader changes that we’re making to really position the company to grow all around the world and to take this iconic Canadian brand to consumers in a lot of additional countries,” Kobza said, adding there were no other changes planned at this time.

In total, roughly 15 per cent of the company’s 2,300 employees were included in the reduction, which focused on its headquarters as well as regional offices and distribution centres across the country.

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