Tim Hortons eyes expansion into China
The Canadian coffee and donut company plans to open more than 1,500 sites in the country.
Tim Hortons announced its plans to launch an ambitious expansion into China over the next decade, seeking to capitalize on the growing preference for North American junk food among Chinese consumers.
Tim Hortons, which is owned by Burger King and Popeyes parent company Restaurant Brands (QSR), entered a partnership with private equity firm Cartesian Capital Group to make the move.
The move comes follows a string of expansion plans from notable brands such as Starbucks and Costa Coffee.
"We have already seen Canada's Chinese community embrace Tim Hortons and we now have the opportunity to bring the best of our Canadian brand to China with established partners who have expertise in the industry and the country," president Alex Macedo said in a statement.
Tim Hortons and Restaurant Brands both have headquarters in Canada. Cartesian, meanwhile, is a long-time partner of Restaurant Brands, and has brought more than 900 Burger King locations to China as part of a joint venture with a Turkish-based franchisee.
(Photo courtesy: Tim Hortons)
