Tim Hortons signs agreement to expand to China

Tim Hortons signs franchise agreement with Cartesian Capital to expand to China

Tim Hortons has signed an agreement with a private equity firm to expand in China.

Under the exclusive master franchise joint venture agreement announced Wednesday, Cartesian Capital Group will develop and open more than 1,500 Tim Hortons restaurants in China over the next 10 years.

Financial terms of the agreement were not immediately available.

Tim Hortons president Alex Macedo said the company’s two main priorities are building and strengthening the brand in Canada and expanding the 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,” Macedo said in a statement.

“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.”

Related: Is Canada losing its love for Tim Hortons?

Related: Feces-flinging woman attacks B.C. Tim Hortons staff

Tim Hortons has more than 4,700 restaurants in Canada, the United States and around the world.

In 2012, Cartesian Capital partnered with Tim Hortons parent company Restaurant Brands International and the Kurdoglu family to develop the Burger King brand in China.

There are now more an 900 Burger King restaurants in China.

“We are excited to expand our partnership with Restaurant Brands International to bring Tim Hortons to China,” Cartesian managing partner Peter Yu said in a statement.

“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.”

In addition to Tim Hortons and Burger King, Restaurant Brands owns the Popeyes brand.

Companies in this story: (TSX:QSR)

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Good fencing makes good neighbours— especially when your neighbours are bears

Workshop in Pass Creek this weekend to promote benefits of proper protection for livestock

Kootenay region posts 10-per-cent return rate on electoral reform ballots

As of Nov. 13, only 5.3 per cent of ballots had been returned province-wide

Nakusp Secondary School hosts day of remembrance

Event honoured Indigenous contributions to Canada’s war efforts

Remembering a century at the Nakusp Cenotaph

Nakusp joined the rest of Canada in honouring 100 years since the end of the First World War

B.C. Legions in need of young members to continue aiding veterans into the future

Lest we forget what thousands of men and women did to fight for Canada’s freedoms – but without new membership, many Legion chapters face dwindling numbers

VIDEO: People with diabetes meet their alert dogs

A diabetic alert dog is trained to detect low blood sugar in people who have Type 1 diabetes

B.C. Realtor suspended after helping intern forge note about sick grandma

Vancouver real estate agent Jaideep Singh Puri has to pay fine, take ethics course

Offensive Facebook post by Okanagan Conservative riding sparks outrage

Post taken down after Conservative MP in neighbouring riding condemns it and demands removal

John Horgan shrugs off low turnout, change to referendum option

‘No’ proportional representation group says voting should be extended

Two more government pot shops to open in Kamloops

Two private applications are also in the queue to come before city council by the end of the year

2 B.C. men charged after allegedly stealing $1,400 worth of butter

The two men, ages 23 and 25, are facing charges of theft under $5,000, Coquitlam police said

Invasive fire ants join the tourist swarms at Hawaii Volcano National Park

Invasive species found at popular tourist destination

Ten-year sentence for man convicted of B.C. belt-strangling death

Shayne McGenn guilty of manslaughter in 2016 death of David Delaney, 63

Roy Clark, country singer, ‘Hee Haw’ star, has died

Guitar virtuoso died because of complications from pneumonia at home in Tulsa, Okla. He was 85.

Most Read