Tim Hortons to add 1,500 Chinese locations
Tim Hortons is going into China after signing an exclusive master franchise joint venture agreement with Cartesian Capital Group to open more than 1,500 restaurants throughout the sprawling country over the next ten years, a news release said.
"We have two main priorities at Tim Hortons," President Alex Macedo said in the release, "Building and strengthening our brand in Canada and expanding our iconic Canadian brand to the rest of the world.
China's population and vibrant economy represent an excellent growth opportunity for Tim Hortons in the coming years. 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."
The RBI brand has more than 4,700 locations worldwide. Cartesian Managing Partner Peter Yu said that number is about to grow greatly through his company's with RBI.
"Tim Hortons has a long, rich history of providing guests with quality food and premium coffee," Yu said in the release. "We plan to expand that tradition to China, drawing on 20 years of experience building businesses in China and around the world."