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
/PRNewswire/ - 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.
ABOUT TIM
HORTONS®
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.
ABOUT BKR
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.
Forward-Looking
Statements
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.
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SOURCE Restaurant Brands International Inc.