AMPEX BRANDS TO BECOME ONE OF THE LARGEST RESTAURANT OWNERS IN THE
TIM HORTONS® SYSTEM
OAKVILLE, ON, Jan. 7, 2016 /PRNewswire/ - Restaurant Brands International Inc. ("RBI") and Ampex Brands of Columbus and Dayton ("ABCD") have announced an agreement to strengthen and grow the iconic TIM HORTONS® brand in Central Ohio. The agreement, which makes Ampex one of the largest restaurant owners in the TIM HORTONS® system, includes acquiring existing TIM HORTONS® restaurants in the area along with aggressive development commitments over the next 6 years.
"Ampex, with a proven track record of growing a variety of QSR brands and a commitment to operational excellence, is the perfect partner to provide further growth opportunities for TIM HORTONS® while continuing to provide our Guests with the top quality products and great service they have come to expect," says Elías Díaz Sesé, President of TIM HORTONS®. "We're excited to continue our expansion in the U.S. – a market which truly represents a great opportunity to strengthen the TIM HORTONS® brand."
"After looking at several QSR brands, we decided that TIM HORTONS® great food, high-class employees, Guest-driven focus, focus on operational excellence and vision for growth make it the most compelling opportunity in the industry," says Tabbassum Mumtaz, CEO and President of Ampex Brands. "We are excited to be a part of the TIM HORTONS® family and to accelerate the Brand's growth in the Columbus, Dayton and Zanesville markets. We firmly believe TIM HORTONS® can be the fastest growing QSR brand in the United States for the foreseeable future."
Joining Ampex Brands in the operation and growth of the TIM HORTONS® restaurants in Columbus is Mike Forbes, an award-winning restauranteur who has been a TIM HORTONS® restaurant owner, along with his wife Trina, since 1999.
This agreement is the most recent by RBI in its plans to grow TIM HORTONS® in the U.S.. In October 2015, RBI announced the establishment of an Area Representative and Developer Agreement for the Cincinnati area with Seven Invest.
"These agreements are the right model to help bring to life our vision of delivering a great Guest experience while building and strengthening the TIM HORTONS® brand in the U.S.," says Daniel Schwartz, CEO of RBI. "We look forward to expanding our presence in these, and additional communities, with our new, and future, partners."
TIM HORTONS® opened its first restaurant in the U.S. in 1984 and its first restaurant in Ohio in 1996. Today, the brand maintains a strong base of restaurants across Canada, the U.S. and the Gulf Cooperation Council.
About Restaurant Brands International
Restaurant Brands International Inc. is one of the world's largest quick service restaurant companies with approximately $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 September 30, 2015, TIM HORTONS® had more than 4,700 system wide restaurants located in Canada, the United States and the Gulf Cooperation Council. More information about the Company is available at www.timhortons.com.
About Ampex Brands
Ampex Brands was formed in 2005 to acquire 18 Long John Silver's restaurants, and has since grown tremendously, landing as the 21st largest franchisee in the US according to The 2015 Mega 99 Rankings (http://www.franchising.com/multiunitfranchisees/mega99.html). Currently, Ampex owns and operates around 300 units of KFC, Taco Bell, Long John Silver's and A&W in Arkansas, Louisiana, Texas, Oklahoma, Ohio, Pennsylvania, West Virginia, Illinois, New York and Missouri, and employs over 6,000 team members. Along with other several recognitions and awards, in 2015, Ampex had the honor of receiving The Franchise Times Dealmakers award (http://www.franchisetimes.com/news/February-2015/10-Win-Prestigious-Franchise-Times-Dealmakers-Awards/). Ampex is a proud partner of the Apex Family Foundation, which is a charitable organization dedicated to the advancement of humanity through community programs that provide assistance in times of need, and seeks to encourage, in those that benefit from the Foundation's activities, a sense of continuing responsibility towards other fellow human beings.
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 the growth potential of the Tim Hortons® brand in the Columbus, Dayton and Zanesville markets; and its expectations regarding the ability of Ampex to aggressively develop these markets. 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