says it’s spending up to $45-million on two deals intended to boost its presence in China and spur growth in what the company sees as a promising market.
The Toronto-based company says it plans to work with local partners and establish a “master franchisee” model for Popeyes similar to what is in place in other countries. “China is one of the most compelling long-term market opportunities for both our Popeyes and Tim Hortons brands. Popeyes China is off to a strong start and we are excited to unlock its development potential,” Asia Pacific President Rafael Odorizzi said in a statement. “ … Today’s announcement allows Tims China to redouble its focus on quality restaurant development and providing Chinese consumers with our high-quality Tims coffee and food offerings.
RBI had once expected net restaurant growth – a metric that takes into account locations both opening and closing – to climb by at least five per cent between 2023 and 2024. The company said at the time it expects its consolidated global net restaurant growth in the mid-four per cent range this year before accelerating in 2025.
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