Parent company RBI has outlined plans for 1,000 Tim Hortons stores in the US by 2028 as part of a five-year growth plan that will focus on key international growth markets, including China
Restaurant Brands International (RBI) has outlined a goal of reaching 1,000 Tim Hortons stores across the US by 2028.
The Canadian coffee chain currently operates 631 outlets across 11 US states, with a strong presence in New York, Ohio and Michigan.
The growth projection forms part of RBI’s new Five-Year Growth Outlook, which sets out plans to scale its current global portfolio of Tim Hortons, Burger King, Popeyes and Firehouse Sub outlets from just over 31,000 currently to 40,000 within five years.
To achieve its Five-Year Growth Outlook, the Toronto-based quick-service restaurant group will need to exceed 5% net outlet growth annually. RBI expects at least 7,000 of the net new stores to open outside of the US and Canada.
On an investors call following its full year 2023 results CEO Josh Kobza said that RBI was working with Tims China to lay a foundation to ‘meet the growth aspirations we know we’re capable of’. The coffee chain currently operates more than 900 stores in East Asia’s largest market.
Tim Hortons is also seeking growth in the UK, India and South Korea.
