America has lost the ability to call several iconic companies its own over the past few decades, including Burger King, Budweiser, and Purina. Each of these companies made the decision to leave the United States through either acquisition or inversion deals. In an inversion deal, the U.S. company reincorporates overseas after they purchase an overseas corporation.
This trend could be changing, though. Pfizer recently agreed to terminate a $160 billion purchase of Allergen, the maker of Botox. Pfizer’s decision came after the US Treasury announced new rules meant to stop inversions. Those new rules could also have an effect on inversion deals like Johnson Controls’ merger with Ireland’s Tyco International for $16.5 billion. It could also affect IHS’s planned takeover of London’s Markit for $13 billion.
While the new rules could affect future inversion deal that led U.S. companies away from the country, these 10 iconic American companies are already no longer US-based.
#1 – Burger King
Burger King left the United States in 2014 after it acquired Canada’s Tim Horton’s. While the coffee shop still operates as an independent brand, Burger King moved its global headquarters to Canada just the same. Some estimate that the fast food restaurant’s move helps it avoid as much as $275 million in taxes.
#2 – Budweiser
You can’t really get much more American than a nice cold bottle of Budweiser. At least this was true before 2008 when the iconic brewery was bought out by InBev, the makers of Stella Artois and Bass. The newly formed company still bases its North American headquarters out of Bud’s original hometown of St. Louis, Missouri. However, the corporation now calls Belguim its corporate home.
It should be noted that Budweiser isn’t the only big American beer company that isn’t based here anymore. Coors is operated by Canada’s Molson while Miller Brewing was bought in 1999 by South African Breweries.