Tim Horton’s China operator to bring Popeyes to the Mainland
The operator will pour roughly $90m into the brand’s development in the country.
TH International Limited (Tim’s China) has become the exclusive operator and developer of the Popeyes brand in mainland China.
Operating the Canadian brand Tim Hortons in China, Tim’s China acquired PLKC International Limited (Popeyes China), which holds the exclusive rights to develop and sub-franchise the Popeyes brand in mainland China and Macau.
Like Tim Hortons, Popeyes is an iconic brand owned by Restaurant Brands International (RBI). Popeyes’ 50-year history, distinctive menu, and passion for flavorful authentic food have made it one of the world’s leading chicken quick-service restaurant (QSR) brands with over 4,100 locations globally.
Popeyes China brings $30m in cash, which will further strengthen Tims China’s balance sheet, and Tims China will earmark an additional $60m to develop its Popeyes China business over the coming years.
“With this transaction, Tims China gains a tremendous additional pathway for growth in the world’s most compelling consumer market. The track record of our team, who led the development of Tim Hortons in China from a standing start to over 600 stores in under five years, highlights the strength of our well-honed store development platform and infrastructure. We are excited to leverage what we’ve built to launch and grow the Popeyes business rapidly and efficiently,” said Peter Yu, Chairman of Tims China.
