Restaurant Brands International eyes massive China expansion
Restaurant Brands International, parent of the Burger King, Tim Hortons and Popeyes Louisiana Kitchen brands, is eyeing significant expansion in China despite current trade tensions.
The firm is aiming to surpass 40,000 locations in the territory within 10 years, making the firm one of the world’s largest restaurant chains.
“Our view is that we want to be there, and we will be there for the long term,” said company CEO Jose Cil. “It’s an amazing consumption market, growing tremendously.”
The firm is making its intentions known in an atmosphere of a deteriorating trade relationship between China and the US. Before tensions heightened last week, China was already on track to experience its worst GDP growth in 29 years.
Restaurant Brands is aiming to launch 1500 Tim Hortons locations within China within the next decade as the brand’s growth is slowing in its home Canadian market. There are currently just four Tim Hortons in the territory, compared to more than 1000 Burger King restaurants.