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Joyce was a Hamilton, Ontario policeman who knew Horton from frequenting his donut shop while on foot patrol. Joyce already had a Dairy Queen franchise elsewhere in the city at the time. Over the clause of the one-page franchise agreement requiring rent in advance, Joyce wrote "You must be kidding!"

Upon selling this private company to Wendy's International in exchange for stock, Joyce became its largest single shareholder, even larger than Dave Thomas, the founder. Now retired, he devotes time to numerous charities including the Tim Horton's Children's Foundation that sends thousands of poor kids to camp each year.