OAKVILLE, Ontario – Restaurant Brands International Inc. (RBI, parent company of Tim Hortons and Burger King, announced a joint venture with a group of investors in Mexico that will bring the Tim Hortons brand to Latin America for the first time.
The joint venture company will be the master franchisee of the Tim Hortons brand in Mexico, and will be responsible for developing and growing the brand in the country.
“We are continuing to build on our commitment of taking the Tim Hortons brand and Canada's favorite coffee around the world,” Daniel Schwartz, CEO of Restaurant Brands International, said in a statement. “Mexico has a thriving coffee market so we are very optimistic about the opportunity to grow the brand across the country.”
This latest development agreement is part of RBI’s plans to develop and grow the Tim Hortons brand internationally. In 2016, RBI announced similar agreements in the Philippines and Great Britain.
“It is a great step forward for the Tim Hortons brand as we make our first market entry into Latin America,” Elías Díaz Sesé, president of Tim Hortons, said in a statement. “Our partners have a deep understanding of the foodservice industry in Mexico, which we believe will serve them well in growing the brand in the region and delivering an excellent experience for all our guests.”