As troubles brew in Canada, RBI plans to expand Tim Hortons to Spain
Tim Hortons plans to expand to Spain, its fourth venture abroad in recent months, as it tries to overcome lagging sales and an internal revolt from disgruntled franchisees in Canada.
Restaurant Brands International (TSX:QSR), the parent company of the coffee-and-doughnut chain, said Wednesday it has signed a deal with a joint venture partner to set up shop in one of the largest cafe markets in Europe.
Chief financial officer Josh Kobza said Spain provides an intriguing opportunity for RBI in its quest to be a dominant player in the global coffee industry following forays into Mexico, Britain and the Philippines.
“We’re building a lot of momentum in the international business,” Kobza said in an interview.