Canadian coffee and donut fast-food restaurant chain Tim Hortons plans to open more than 1,500 around China over the next 10 years.
Tim Hortons is Canada's largest quick service restaurant chain and has a total of more than 4,700 restaurants in nine countries. Most of the company's restaurants are located in Canada and the United States. China will now be added to this list.
"We have already seen Canada's Chinese community embrace Tim Hortons and we now have the opportunity to bring the best of our Canadian brand to China," said company president Alex Macedo.
The 44-year-old iconic café and restaurant is a fixture along Canada's many highways. It was bought by Burger King in 2014 for $12.5 billion.
Macedo said Tim Hortons has two main priorities: building and strengthening its brand in Canada and expanding its brand to the rest of the world.
"China's population and vibrant economy represent an excellent growth opportunity for Tim Hortons in the coming years," noted Macedo.
Its massive expansion to China comes at a time where it faces a slew of financial and social challenges at home, as well as internal disagreements. Operating results were below expectations.
Chief Executive Officer Daniel Schwartz last April acknowledged results at Tim Horton's "were a little softer than we would have liked."
Also affecting the company's operations are is a lingering dispute between parent Restaurant Brands International Inc. (RBI) and its Canadian franchisees. RBI wants to jump Tim Hortons' sales by remodeling locations and revamping the menu with more espresso and lunch offerings. The franchisees want to stick to the status quo.
RBI is a Canadian multinational fast food holding company formed in 2014 by the $12.5 billion mergers between Burger King and Tim Hortons.
