OAKVILLE, ONT. — Restaurant Brands International Inc. has established a master franchise joint venture company, TH Coffee Services Philippines Corp., with a group of investors in the Philippines. The new company will be the master franchisee of the Tim Hortons brand in the Philippines and marks the coffee chain’s entrance into Southeast Asia.
|Daniel Schwartz, c.e.o. of Restaurant Brands International|
“This agreement signals an exciting era of growth for the Tim Hortons brand internationally and particularly in Southeast Asia,” said Daniel Schwartz, chief executive officer of Restaurant Brands International. “The master franchise joint venture model has been a successful strategy for the Burger King brand and we expect it will continue to help us drive growth and build scale for the Tim Hortons brand over the long term.”
Elias Diaz Sese, president of Tim Hortons, said the initiative is part of the company’s move to expand its global footprint beyond its primary markets of Canada and the United States.
|Elias Diaz Sese, president of Tim Hortons|
“We are working with partners who have a deep understanding of the Philippines, which we believe will position them well for success in developing and growing the brand in the region,” Mr. Diaz Sese said.The development agreement entered into with the joint venture company is the most recent by Restaurant Brands in its plans to develop and grow the Tim Hortons brand internationally. Tim Hortons opened its first restaurant in Canada in 1964 and in the United States in 1984. Today, the brand maintains a strong base of restaurants across Canada, the United States and the Middle East.