BUSINESS
05/15/2019 11:09 EDT

Tim Hortons Parent Company Aims To Be Among World's Largest Chains

Restaurant Brands International is plagued by slowing growth, but has big ambitions.

The Canadian Press

May 15 (Reuters) - Restaurant Brands International Inc said on Wednesday it plans to expand the global presence of all three of its brands to more than 40,000 restaurants, from the current 26,000, over the next decade.

The owner of Burger King, Tim Hortons and Popeyes Louisiana Kitchen is aiming to boost its businesses by deploying various initiatives that range from app-based ordering to loyalty programs for its customers.

Watch: Tim Hortons unveils new spill-resistant lids. Story continues below.

 

Restaurant Brands, which is scheduled to hold its investor day later in the day, expects its coffee, burger and chicken markets to grow between 5% and 6% per year over the next 5 years.

The company, which has been affected by slowing growth at its three iconic brands, had brought in the head of its Burger King unit, Jose Cil, as its chief executive officer earlier this year.

Last month, the company reported a 0.6 percent drop in comparable sales at Tim Hortons for the quarter ended March 31, while same-store sales at Burger King grew 2.2 percent, less than 3.8 percent a year earlier.

(Reporting by Shradha Singh in Bengaluru; Editing by Shailesh Kuber)

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