Restaurant Brands International Inc. Continues Tim Hortons® U.S. Expansion with Accelerated Growth in Indiana
OAKVILLE, ON - Feb. 16, 2016 // PRNewswire // - Restaurant Brands International Inc. ("RBI") (TSX/NYSE: QSR, TSX:QSP) and Luke Family of Brands ("Luke") have reached an agreement to further develop the Tim Hortons® brand in Indiana. The agreement will make Luke the exclusive Tim Hortons® Area Representative and Developer in Indianapolis and Lafayette, responsible for owning and operating restaurants, managing the market and sourcing local entrepreneurs to develop restaurants, creating thousands of jobs in the state of Indiana.
"The Area Representative and Developer model is critical to our strategy of bringing Tim Hortons® to the world," said Daniel Schwartz, CEO of Restaurant Brands International. "We are confident that the Luke team will strongly position the Tim Hortons® brand for success in the short- and long-term."
"We're excited about coming to Indianapolis and Lafayette to grow the iconic Tim Hortons® brand," said Elías Díaz Sesé, President of Tim Hortons®. "Given our strong presence in the Columbus area and aggressive development plans in neighboring Cincinnati, the Indiana market is a prime growth opportunity for our continued expansion in the U.S."
"We have an extensive portfolio of brands and diversified holdings, and we believe that developing the Tim Hortons® brand in our home state of Indiana is a very compelling franchise opportunity," said Tom Collins II, President of Luke Family of Brands. "We look forward to serving the highest quality coffee, baked goods, and food offerings to the people of Indianapolis and Lafayette."
This agreement is the most recent by RBI in its plans to grow Tim Hortons® in the U.S. In January 2016, RBI announced an agreement for the Columbus area and inOctober 2015 established an Area Representative and Developer Agreement for theCincinnati area.
Tim Hortons® opened its first restaurant in the U.S. in 1984. Today, the brand maintains a strong base of restaurants across Canada, the U.S. and the Middle East.
About Restaurant Brands International
Restaurant Brands International Inc. is one of the world's largest quick service restaurant companies with more than $23 billion in system sales and over 19,000 restaurants in approximately 100 countries and U.S. territories. Restaurant Brands International owns two of the world's most prominent and iconic quick service restaurant brands – Tim Hortons® and BURGER KING®. These independently operated brands have been serving their respective guests, franchisees, and communities for over 50 years. To learn more about Restaurant Brands International, please visit the Company's website at www.rbi.com.
About Tim Hortons®
Tim Hortons®, part of Restaurant Brands International, is one of North America's largest restaurant chains operating in the quick service segment. Founded as a single location in Canada in 1964, Tim Hortons® appeals to a broad range of consumer tastes, with a menu that includes premium coffee, hot and cold specialty drinks (including lattes, cappuccinos and espresso shots), specialty teas and fruit smoothies, fresh baked goods, grilled Panini and classic sandwiches, wraps, soups, prepared foods and other food products. As of December 31, 2015, Tim Hortons®had more than 4,400 system wide restaurants located in Canada, the United States and the Middle East. More information about the Company is available atwww.timhortons.com.
About Luke Family of Brands
Luke Family of Brands is a third-generation, family-owned retail conglomerate. The company operates more than 60 profit centers across its various retail holdings and supplies fuel products to over 250 customers throughout the Chicago area. Luke employs 700 associates with annual consolidated sales in excess of $1 billion.
This press release includes forward-looking statements, which are often identified by the words "may," "might," "believes," "thinks," "anticipates," "plans," "expects," "intends" or similar expressions and reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements include statements about RBI's expectations regarding RBI's ability to use the area development model to bring the Tim Hortons® brand to the world; its expectations regarding the ability of the Luke team to strongly position the Tim Hortons® brand for success in the short- and long-term in theIndianapolis and Lafayette markets; its expectations regarding the growth potential of the Tim Hortons® brand in these markets; and its expectation that its strong presence in the Columbus area and aggressive development plans in Cincinnati will make theIndiana market a prime growth opportunity for Tim Hortons continued expansion in the U.S. The factors that could cause actual results to differ materially from RBI's expectations are detailed in filings of RBI with the U.S. Securities and Exchange Commission and on the securities regulatory authorities in each province and territory of Canada, such as its annual and quarterly reports and current reports on Form 8-K and include the following: risks related to RBI's ability to successfully implement its domestic and international growth strategy; and risks related to RBI's ability to compete domestically and internationally in an intensely competitive industry. Other than as required under U.S. federal securities laws or Canadian securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, change in expectations or otherwise.
SOURCE Restaurant Brands International
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