Tim Hortons co-founder Ron Joyce has died at age 88

Canadian billionaire and Tim Hortons co-founder Ron Joyce has died. Friends of the entrepreneur say he died peacefully in his Burlington, Ont. home on Jan. 31 at the age of 88.

Joyce, a former Hamilton police constable, became the first Tim Hortons franchisee in 1965 and partnered with co-founder and Canadian hockey player Tim Horton to expand the doughnut chain.

Joyce’s first Tim Hortons location was in Hamilton, Ont. Following Tim Horton’s death in 1974, Joyce became the sole owner of the franchise which then consisted of 40 stores.

Joyce went on to create the Tim Horton Children’s Foundation which sends underprivileged kids to camp each year.

He has been the recipient of a number of honours by organizations for his success in the food service industry and his work with the Tim Horton Children’s Foundation.

Joyce has also received several honorary doctorates and is a member of the Order of Canada.

Friends of the Joyce family say there will be no funeral service but a celebration of life is scheduled to be held on Feb. 16 for close friends and family.

Correction: A previous version of this article erroneously stated Joyce was 89. He died at the age of 88.