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TH Limited, the exclusive operator of Tim Hortons coffee shops in China, has announced that its board of directors has approved the development of Popeyes in mainland China and Macau, according to a press release.
Both Popeyes and Tim Hortons are owned by Restaurant Brands International. Popeyes has more than 3,900 locations globally.
“Tims has been a huge success in China — with more than 600 locations on our way to 1,000 by year end,” Peter Yu, chairman of Tims China, said in the press release. “We are building on that success and launching a second leading brand in the world’s most compelling consumer market. I have long admired RBI’s value creation in hosting multiple brands on a single platform, and this next step in Tims China’s evolution will bring significant operational and development synergies.”
“We are thrilled to have the opportunity to welcome Popeyes, a beloved global brand and proven winner, to the Tims China family,” Yongchen Lu, CEO of Tims China, said in the press release. “The two brands are a natural fit with complementary product offerings and exceptional growth potential. Both brands will benefit from greater scale, a stronger financial model and synergies including in the supply chain and new restaurant development. We cannot wait to serve all our guests, including our over 11 million loyalty members, a spicy chicken sandwich.”
