Restaurant Brands to revamp Tim Hortons for C$700 million
The move follows a round of bad publicity over its management of the Canadian chain.
The revamp suggested initiatives including cheaper meals and new breakfast options were bearing fruit at Burger King outlets. Politicians have criticised Hortons for its reaction to minimum wage increases in Ontario, while a group of franchisees has alleged Restaurant Brands is not keeping to the terms of a 2014 deal to buy the chain.
“The environment’s competitive and the fact that there’s a ton of negative media created by this group of franchisees is also hurting guest perception,” chief executive Daniel Schwartz said.
Restaurant Brands said it would redesign Tim Hortons restaurants, focus on technology and introduce more lunch options at the chain.