Tim Hortons® to launch in South Korea in 2023
Tim Hortons®, Canada's favorite coffee brand, to enter South Korean Market
BKR Co., Ltd (BKR) has entered into master franchise and development agreement with Tim Hortons
BKR is one of the largest QSR (Quick Service Restaurant) companies in South Korea
TORONTO, May 10, 2023 /CNW/ - Tim Hortons®, Canada's iconic coffee brand with a nearly 60-year history, is expected to enter the South Korean market later this year under a master franchise agreement with BKR Co. Ltd., one of the largest QSR companies in South Korea.
Tim Hortons®, famous for its fresh premium coffee, donuts and delicious food, serves original Canadian classics like Double Double™ coffee and Timbits® donuts, fresh sandwiches, wraps and more. Tim Hortons® uses only 100% premium Arabica beans and ethically sourced coffee. Under its brand philosophy 'Always Fresh', Tim Hortons® coffee is created using a unique blend of 100% premium Arabica beans roasted with care to deliver the consistent taste of Tim Hortons® every time.
The brand currently has approximately 5,600 restaurants across 15 countries, including the United States, Mexico, Spain, the United Kingdom, across the Middle East, China, India, Thailand, and the Philippines.
"South Korea is one of the world's largest and fastest growing coffee markets. We are proud to have such an experienced partner in BKR. We are excited about meeting our South Korean guests and introducing them to the premium quality coffee and delicious foods that Tims fans around the world know and love" said David Shear, President – International, Restaurant Brands International, parent company of the Tim Hortons® brand.
Tim Hortons® is one of North America's largest restaurant chains operating in the quick service segment. Founded as a single location in Canada in 1964, the Tim Hortons® brand appeals to a broad range of guest tastes, with a menu that includes premium coffee, hot and cold specialty drinks (including lattes, cappuccinos, espresso, teas and our famous iced coffee based beverages), baked goods, hot breakfast sandwiches, breakfast snacking items, and other food products. Tim Hortons® has approximatively 5,600 restaurants in Canada, the United States and around the world. Tim Hortons® is a subsidiary of Restaurant Brands International Inc. ("RBI"), one of the world's largest quick service restaurant companies with over $35 billion in annual system-wide sales and approximately 30,000 restaurants in more than 100 countries. RBI owns four of the world's most prominent and iconic quick service restaurant brands – BURGER KING®, TIM HORTONS®, POPEYES®, and FIREHOUSE SUBS®. More information about the company is available at timhortons.com.
BKR is a premium QSR (quick service restaurant) company that operates the Burger King® brand in Korea. Since entering Korea by opening the Jongro branch in 1984, it has been loved by Korean consumers for the past 39 years for its differentiated menu and unique store interior design. Burger King®, which has established itself as a "premium QSR brand that serves the most delicious hamburgers," currently operates more than 480 stores Korea nationwide. Under corporate philosophy and brand principle as 'high-quality products, friendly services, and clean store', Burger King® Korea is serving delicious menu experience.
This press release contains certain forward-looking statements and information, which reflect management's current beliefs and expectations regarding future events, initiatives and operating performance and speak only as of the date hereof. These forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties. These forward-looking statements include, without limitation, statements about our expectations regarding the ability of the Tim Hortons business in South Korea to enter the market in 2023. The factors that could cause actual results to differ materially from RBI's expectations are detailed in filings of RBI with the U.S. Securities and Exchange Commission and with the securities regulatory authorities in Canada, such as its annual and quarterly reports and current reports on Form 8-K and include the following risks: risk related to our ability to successfully implement its domestic and international growth strategy and risks related to its international operations; risks related to our ability to compete domestically and internationally in an intensely competitive industry; global economic or other business conditions that may affect the desire or ability of our customers to purchase our products; our relationship with, and the success of, our franchisees and risks related to our fully franchised business model; and the effectiveness of our marketing and advertising programs and franchisee support of these programs. Other than as required under applicable laws, we do not assume a duty to update these forward-looking statements, whether because of new information, subsequent events or circumstances, change in expectations or otherwise.
SOURCE Restaurant Brands International Inc.
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