Tim Hortons’ owner RBI trying to take the coffee chain to Spain
Restaurant Brands International, which also owns Burger King and Popeyes Louisiana Kitchen, has signed a joint-venture deal to open Tim Hortons in Spain
OAKVILLE, Ont.—Restaurant Brands International Inc. says it has signed a deal with a joint-venture partner to take Tim Hortons to Spain.
“Our partner has the right combination of market expertise and QSR experience to help drive growth for the Tim Hortons brand in the Spanish market,” said Lucas Muniz, Regional President of Tim Hortons, International. “Spain is an attractive growth market that is well suited to the unique offerings available at Tim Hortons, including our high-quality coffee and fresh food at great value.”
The company, which also owns Burger King and Popeyes Louisiana Kitchen, made the announcement as it reported its second-quarter financial results.
Restaurant Brands, which keeps its books in U.S. dollars, says it earned a profit attributable to common shareholders of US$89.5 million or 37 cents per diluted share for the three months ended June 30.
That compared with a profit of $90.9 million or 38 cents per diluted share a year ago.
On an adjusted basis, the company said it earned $241.7 million or 51 cents per share in its latest quarter, up from $192.4 million or 41 cents per share in the same quarter last year.
Revenue totalled $1.13 billion, up from $1.04 billion a year ago, boosted by the acquisition of Popeyes.