Tim Hortons® Announces Agreement to Launch in Thailand
BANGKOK, Thailand, June 6, 2019 // PRNewswire // - Tim Hortons announced today that it has entered into an exclusive master franchise and development agreement to develop the Tim Hortons brand in Thailand with WeEat Company, part of the Wattanavekin family group of companies.
"We are very excited to grow the Tims brand in Thailand as part of our broader global growth strategy," said Tim Hortons President Alex Macedo. "Thailand has a thriving coffee market and our partner has a deep understanding of the Thai market, which we believe will position us well for success in the country."
Tim Hortons believes that it can replicate in Thailand its recent successes in other international markets by featuring a strong core hot and cold beverage platform, a localized food menu and prominent Canadian branding in the restaurant design to celebrate the brand's Canadian heritage.
"We are proud to partner with Tim Hortons to launch and develop this great brand in Thailand. We look forward to opening the doors of our first Tim Hortons restaurant and sharing Canada's favorite coffee with our guests," said Nick Wattanavekin, CEO of WeEat Company.
Tim Hortons has more than 4,800 system wide restaurants located in Canada, the United States and around the world.
About Tim Hortons®
TIM HORTONS® 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 guest 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. TIM HORTONS® has more than 4,800 system wide restaurants located in Canada, the United States and around the world. More information about the company is available at www.timhortons.com.
About Restaurant Brands International Inc.
Restaurant Brands International Inc. ("RBI") is one of the world's largest quick service restaurant companies with ~$32 billion in system-wide sales and ~26,000 restaurants in over 100 countries and U.S. territories. RBI owns three of the world's most prominent and iconic quick service restaurant brands - TIM HORTONS®, BURGER KING®, and POPEYES®. These independently operated brands have been serving their respective guests, franchisees and communities for over 40 years. To learn more about RBI, please visit the company's website at www.rbi.com.
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 and belief regarding the reception of the Tim Hortons® brand in Thailand, RBI's expectations and belief that WeEat Company's understanding of the local market in Thailand will position Tim Hortons well for success in the country, and RBI's expectations and belief that Tim Hortons can replicate in Thailand its recent successes in other international markets by featuring a strong core hot and cold beverage platform, a localized menu and prominent Canadian branding in the restaurant design to celebrate the brand's Canadian heritage. 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 with 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 Tim Hortons