Tim Hortons® brand to launch in Great Britain as Restaurant Brands International Inc. announces master franchise joint venture
THIS AGREEMENT IS THE FIRST OF ITS KIND FOR THE ICONIC CANADIAN BRAND IN EUROPE
OAKVILLE, ON, Aug. 31, 2016 /PRNewswire/ - Restaurant Brands International Inc. ("RBI") (TSX/NYSE: QSR, TSX: QSP) has announced the establishment of a master franchise joint venture with an investor in Great Britain. The joint venture company will be the master franchisee of the TIM HORTONS® brand in England, Scotland and Wales, responsible for developing and growing the brand in the market.
"This deal is part of our growth plan to take the iconic TIM HORTONS® brand around the world," said Daniel Schwartz, CEO of Restaurant Brands International. "Great Britain is an attractive QSR market with a strong and growing coffee culture so it is a natural fit for the brand."
"This is an incredibly proud moment for the TIM HORTONS® brand as we enter this dynamic market," said Elías Díaz Sesé, President of Tim Hortons. "We look forward to bringing some of our signature products to Great Britain and helping our partners build brand awareness and open restaurants to welcome new Guests."
"We are thrilled to introduce the iconic TIM HORTONS® brand and Canada's favourite coffee to Great Britain," said Gurprit Dhaliwal, CEO of the joint venture company. "Our Guests in England, Scotland and Wales are sure to be delighted with our focus on delivering great products and an exceptional Guest experience."
This announcement is the most recent by RBI regarding its plans to develop and grow the TIM HORTONS® brand around the world. Last month, RBI announced a master franchise joint venture agreement to develop the TIM HORTONS® brand in the Philippines. Today, the brand has restaurants across Canada, the U.S. and the Middle East.
About Restaurant Brands International
Restaurant Brands International Inc. ("RBI") is one of the world's largest quick service restaurant companies with more than $23 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 June 30, 2016, TIM HORTONS® had more than 4,464 system wide restaurants located in Canada, the United States and the Middle East. More information about the company is available at www.timhortons.com.
Forward-Looking Statements
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 belief and expectations that Great Britain is a dynamic and attractive market and that its strong and growing coffee culture makes it a natural fit for the brand; RBI's belief and expectations that by bringing its signature products to Great Britain it will help its partners build brand awareness and open restaurants to welcome new guests; and RBI's belief and expectations regarding its ability to develop and grow the TIM HORTONS® brand around the world. 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.
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