The Ontario-based coffee chain will make its Central American debut in Panama later this year and has outlined plans to open 30 stores by 2034
Ontario-based Tim Hortons currently operates more than 5,700 stores across 17 markets globally | Photo credit: Erik Mclean
Canadian coffee chain Tim Hortons will enter Panama this year and plans to open 30 stores in the central American country within the next 10 years.
Parent company Restaurant Brands International (RBI) said the first store in partnership with Vortex Investment SA will open in the coming months, with outlet growth focused on Panama City.
“We look forward to bringing Tim Hortons renowned quality coffee in Panama and to introduce our delicious food and our welcoming Tim Hortons experience to guests later this year,” said Renato Rossi, Regional President, Latin America and the Caribbean, RBI.
The move will mark Tim Hortons’ debut in Central America and adds to its growing presence in the US and Mexico, where it currently operates 630 and 89 stores respectively.
The Ontario-based coffee chain currently operates more than 5,700 stores across 17 markets globally, having entered Pakistan, Singapore and South Korea in 2023.
Panama’s branded coffee shop market is led by 24-store Kotowa Coffee House. However, international brands Starbucks and The Coffee Bean & Tea Leaf also have a modest presence, opening 16 and 10 outlets since their respective debuts in 2015.