OAKVILLE, Ont. – The Tim Hortons brand is expanding into Mexico, which will be its first Latin American market.
Restaurant Brands International Inc. (TSX:QSP), which owns the coffee, bakery and sandwich chain, says it has teamed up with a group of investors in Mexico to form a joint venture.
It says the new joint venture will be the master franchisee responsible for growing the Tim Hortons brand in Mexico.
Restaurant Brands International has previously announced similar agreements in the Philippines and United Kingdom.
Tim Hortons began with a single location in 1964 in Canada and entered the U.S. market 20 years later in 1984.
As of September, Tim Hortons had more than 4,400 restaurants in its system. Including Burger King, RBI has more than 19,000 restaurants in more than 100 countries.