OAKVILLE, Ontario – Tim Hortons announced a franchise joint venture agreement that will open more than 1,500 Tim Hortons restaurants in China over the next 10 years. The quick-service restaurant chain, owned by Restaurant Brands International, will partner with Cartesian Capital Group, a global private equity firm.
“We have two main priorities at Tim Hortons: building and strengthening our brand in Canada; and expanding our iconic Canadian brand to the rest of the world,” said Tim Hortons President Alex Macedo. “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.”
Cartesian Managing Partner Peter Yu said, “We are excited to expand our partnership with Restaurant Brands International to bring Tim Hortons to China. Tim Hortons has a long, rich history of providing guests with quality food and premium coffee. We plan to expand that tradition to China, drawing on 20 years of experience building businesses in China and around the world.”