Restaurant Brands International (RBI), the multinational owner and operator of Tim Hortons, has partnered with a group of investors to establish a master franchise joint venture company to sell the fast-food chain’s coffee and doughnuts in the Philippines.
RBI chose the Philippines for its first stop in Southeast Asia because the country has a strong economy and a fast-growing quick-service market, said CEO Daniel Schwartz.
RBI didn’t say how many shops it plans to open in the Philippines. But chief financial officer Joshua Kobza said. “We aim to be a leader in the market.”
Tim Hortons currently has 4,438 outlets. The majority are in Canada, with 14.7 per cent in the U.S. and 2.6 per cent in the Middle East.