Restaurant Brands International Inc. Announces Master Franchise Joint Venture To Launch The Tim Hortons® Brand
The Agreement Marks The First Entry Into The Latin American Market For The Iconic Brand
OAKVILLE, ON - Jan. 27, 2017 /CNW/ - Restaurant Brands International Inc. ("RBI") (TSX/NYSE: QSR, TSX: QSP) has announced the establishment of a master franchise joint venture with a group of investors in Mexico. The joint venture company will be the master franchisee of the Tim Hortons® brand in Mexico, 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 favourite coffee around the world," said Daniel Schwartz, CEO of Restaurant Brands International. "Mexico has a thriving coffee market so we are very optimistic about the opportunity to grow the brand across the country."
"It is a great step forward for the Tim Hortons® brand as we make our first market entry into Latin America," said Elías Díaz Sesé, President of Tim Hortons. "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."
"We are excited to introduce the iconic Tim Hortons® brand to the Mexican market," said Mauricio Barrera Garza, CEO of the joint venture company. "We believe it will have great success in Mexico and look forward to opening our restaurants soon."
The development agreement entered into with the joint venture company is the most recent by RBI in its plans to develop and grow the Tim Hortons® brand internationally. In 2016, RBI announced similar agreements in the Philippines and Great Britain. Tim Hortons® opened its first restaurant in Canada in 1964 and 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 $24 billion in system-wide sales and over 19,000 restaurants in more than 100 countries and U.S. territories. RBI 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 RBI, 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 September 30, 2016, 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 at www.timhortons.com.
This press release includes forward-looking statements, which are often identified by the words "will" "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 belief that there is an opportunity to grow the Tim Hortons® brand across Mexico; RBI's belief that its partners have a deep understanding of the foodservice industry in Mexico that will serve them well in growing the Tim Hortons® brand in the region and delivering an excellent guest experience; and the beliefs regarding the success of the Tim Hortons® brand in Mexico and the timing of restaurant openings. 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 Inc.