Tim Hortons expanding in England, Scotland, Wales
Parent company has deal with investor to expand coffee and doughnut restaurant chain to U.K.
Restaurant Brands International, the parent company of Tim's Hortons, said Wednesday it has reached a deal with an investor to open the first full-service outlets of the Canadian restaurant chain in England, Scotland and Wales.
"This deal is part of our growth plan to take the iconic Tim Hortons brand around the world," said Daniel Schwartz, chief executive of Restaurant Brands International.
Great Britain is an attractive market with a strong and growing coffee culture, Schwartz said, calling it "a natural fit."
Reports indicate the expansion will begin in 2017, although no details have been provided on the number of Tim Hortons outlets planned.
Bloomberg reported that Tim Hortons will face competition in the British market from McDonald's Corp., Starbucks Corp. and Dunkin' Donuts, which are established there already.
Tim Hortons already has smaller outlets in Britain, but this will be its first foray into full-service outlets there.
News of the chain's ambitions in Great Britain arrives about a month after a similar deal to launch in the Philippines was revealed.
Tim Hortons' expansion into the U.S. has not been entirely successful. In 2010, it closed 54 stores in New England, because sales were slow. Last year, it also shuttered some restaurants in New York and Maine after a performance review.
As of the end of June, there were 4,464 Tim Hortons outlets in Canada, the United States and the Middle East.
- Tim Hortons upcoming expansion in Great Britain will be in full-service restaurants. The company already has smaller outlets there.Aug 31, 2016 3:11 PM ET