THE AGREEMENT MARKS THE ICONIC BRAND'S FIRST
FORAY INTO SOUTHEAST ASIA
OAKVILLE, ON, July 28, 2016 /PRNewswire/ -Restaurant Brands
International Inc. ("RBI") (TSX/NYSE: QSR, TSX:QSP) has announced
the establishment of a master franchise joint venture company, TH
Coffee Services Philippines Corporation, with a group of investors
in the Philippines. The joint
venture company will be the master franchisee of the TIM
HORTONS® brand in the
Philippines and marks the Canadian coffee chain's
opportunity to develop and grow the iconic TIM HORTONS®
brand in the Philippines.
"This agreement signals an exciting era of growth for the TIM
HORTONS® brand internationally and particularly in
Southeast Asia," said Daniel Schwartz, CEO of Restaurant Brands
International. "The master franchise joint venture model has been a
successful strategy for the BURGER KING® brand and we
expect it will continue to help us drive growth and build scale for
the TIM HORTONS® brand over the long-term."
"In Canada, the TIM
HORTONS® brand has reached an iconic status and now
we're looking to further expand our global footprint by bringing
our signature coffee and products to the
Philippines," said Elías Díaz Sesé, President
of Tim Hortons. "We are working with partners who have a deep
understanding of the Philippines,
which we believe will position them well for success in developing
and growing the brand in the region."
"We are proud to introduce the TIM HORTONS® brand to
the Philippines, which is home to
approximately 100 million people today," said Enrique Y. Yap, Jr. CEO of TH Coffee Services
Philippines Corporation. "Canada's
favourite coffee will be a welcome addition to the market and we
look forward to serving our Guests across the Philippines."
"The Embassy of Canada welcomes
the entry of TIM HORTONS®, one of Canada's iconic food sector brands, to
the Philippines," said
Canada's Ambassador to
the Philippines, Neil Reeder. "This expansion in the
commercial relationship is another testament to the robust ties
that bind our two countries. We see this new Canadian
investment in the Philippines as a
platform that will create new opportunities for Canadian businesses
and offer more jobs and opportunities for Filipinos."
The development agreement entered into with the joint venture
company is the most recent by RBI in its plans to develop and grow
the TIM HORTONS® brand internationally. TIM
HORTONS® opened its first restaurant in Canada in 1964 and in the U.S. in 1984. Today,
the brand maintains a strong base of restaurants across
Canada, the U.S. and the
Middle East.
About Restaurant Brands International
Restaurant
Brands International Inc. is one of the world's largest quick
service restaurant companies with approximately $23 billion in system sales and over 19,000
restaurants in approximately 100 countries and U.S. territories.
Restaurant Brands International owns two of the world's most
prominent and iconic quick service restaurant brands – TIM
HORTONS® and BURGER KING®. These
independently operated brands have been serving their respective
guests, franchisees, and communities for over 50 years. To learn
more about Restaurant Brands International, please visit the
Company's website at www.rbi.com.
About TIM HORTONS®
TIM
HORTONS®, part of Restaurant Brands International, is
one of North America's largest
restaurant chains operating in the quick service segment. Founded
as a single location in Canada in
1964, TIM HORTONS® appeals to a broad range of consumer
tastes, with a menu that includes premium coffee, hot and cold
specialty drinks (including lattes, cappuccinos and espresso
shots), specialty teas and fruit smoothies, fresh baked goods,
grilled Panini and classic sandwiches, wraps, soups, prepared foods
and other food products. As of March 31,
2016, TIM HORTONS® had more than 4,400
system wide restaurants located in Canada, the United
States and the Middle East.
More information about the Company is available at
www.timhortons.com.
About TH Coffee Services Philippines Corporation
TH
Coffee Services Philippines Corporation is a joint venture company
established in partnership with a subsidiary of Restaurant Brands
International Inc. to develop and grow the iconic TIM
HORTONS® brand in the Philippines. As the master franchisee, it
is set to build TIM HORTONS® restaurants and
provide exemplary service and valuable products that are relevant
and customized to the needs and tastes of the local market.
Forward-Looking Statements
This press release includes forward-looking statements, which
are often identified by the words "may," "might," "believes,"
"thinks," "anticipates," "plans," "expects," "intends" or similar
expressions and reflect management's expectations regarding future
events and operating performance and speak only as of the date
hereof. These forward-looking statements include statements about:
RBI's belief that this agreement signals an exciting era of
growth for the TIM HORTONS® brand internationally
and particularly in Southeast
Asia; RBI's expectation that the master franchise joint
venture model will continue to help RBI drive growth and build
scale for the TIM HORTONS® brand over the long-term;
RBI's belief that it will further expand our global footprint by
bringing TIM HORTONS® signature coffee and products to
the Philippines; and RBI's belief
that its JV partners are well positioned to succeed in developing
and growing the brand in the region. The factors that could cause
actual results to differ materially from RBI's expectations are
detailed in filings of RBI with the U.S. Securities and Exchange
Commission and on the securities regulatory authorities in each
province and territory of Canada,
such as its annual and quarterly reports and current reports on
Form 8-K and include the following: risks related to RBI's
ability to successfully implement its domestic and international
growth strategy; and risks related to RBI's ability to compete
domestically and internationally in an intensely competitive
industry. Other than as required under U.S. federal
securities laws or Canadian securities laws, we do not assume a
duty to update these forward-looking statements, whether as a
result of new information, subsequent events or circumstances,
change in expectations or otherwise.
SOURCE Restaurant Brands International