The Canadian restaurant group, which operates the Tim Hortons coffee chain, is targeting accelerated growth across its coffee and foodservice brands under the stewardship of the former Domino’s Pizza CEO
Tim Hortons currently operates 3,900 stores in Canada and achieved revenues of $1.9bn in RBI’s third quarter | Photo credit: Restaurant Brands International
Restaurant Brands International (RBI) has strengthen its global growth plans with the appointment of former Domino’s Pizza CEO Patrick Doyle as Executive Chairman.
RBI said that Doyle, who led Domino’s Pizza between 2010-2018, will be an important contributor to unlocking growth in the company and ensuring increasing profitability for franchisees across its brands.
Toronto-based RBI achieved sales growth across all four of its brands in its third quarter, with Burger King and Tim Hortons leading growth with 14.5% and 13.4% respectively.
Between 2010-2018, Domino’s Pizza achieved 29 consecutive quarters of same-store-sales growth, with revenues increasing from $5.6bn to $13bn.
"Patrick's appointment as Executive Chairman is a huge addition to the already strong leadership team that we have built over the past few years. This is part of our long-term strategy to accelerate growth in our restaurant brands and profitability for our franchisees and drive shareholder returns that we believe the company is very capable of delivering," said Daniel Schwartz and Alex Behring, current co-Chairmen of RBI's Board of Directors.
Both Schwartz and Behring will continue to serve on the Board of Directors.
"I love the restaurant industry. These are four exceptional brands with real opportunities for accelerated growth. Working closely with each of the brands' franchisees, with Jose (CEO, RBI), the whole RBI team, and the Board of Directors, I am confident we can create one of the most compelling growth stories in the industry," added Doyle.
Tim Hortons currently operates 3,900 stores in Canada and achieved revenues of $1.9bn in RBI’s third quarter.
The company has targeted expansion in global markets in recent months, achieving 26% outlet growth in international stores in 2022 to reach 1,506 sites.
This has included outlet debuts in India and Kuwait and expansion plans detailed for its target Mexican and Chinese markets.