Tim Hortons China Hits 300 Stores Undeterred by Listing Delay
- Silver Crest merger will likely close in the first quarter
- Tims executives predict 800% store growth in China by 2026
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The iconic Canadian coffee and donut chain Tim Hortons is on a tear in China, more than doubling its store count this year in a blistering expansion that if sustained would outpace the initial trajectory of industry incumbent Starbucks Corp.
TH International Ltd., also known as Tims China, a joint venture of Restaurant Brands International Inc. and the private equity firm Cartesian Capital Group, said it has opened its 300th store in the world’s most populous country. The more than two-fold jump -- it had 137 outlets at the beginning of 2021 -- underscores the coffee chain’s big bet on China despite recurring flare-ups of Covid-19 that has curtailed consumer demand and triggered curbs on movement.