Quick-serve giant to open some 1,400 stores annually
The parent company of Burger King, Popeyes Louisiana Kitchen and Tim Hortons is primed for aggressive expansion in the coming years.
Restaurant Brands International (RBI) said it plans to grow from its current total of approximately 26,000 restaurants to more than 40,000 locations globally during the next eight to 10 years. This would make the company one of the largest restaurant brands in the world.
RBI said is well-positioned to take advantage of compelling long-term growth in the global quick-service restaurant. The five-year outlook for growth in the global burger market is expected to be 5% annually, with growth in the global coffee and chicken markets expected to be 6% annually, according to the company.
“RBI is fundamentally a growth company, with three amazing, iconic brands that we believe have a very long runway for growth — both at home and around the world,” said Jose Cil, CEO of Restaurant Brands International. “We have a proven history of generating very strong returns for our shareholders and today we are excited to share more insight than we ever have before to support our belief that all three brands have substantial growth ahead.”
Of its three brands, Burger King is the largest, with some 18,000 locations in more than 100 countries. Tim Hortons has more than 4,800 system wide restaurants located in Canada, the United States and around the globe. Popeyes has more than 3,100 restaurants in the U.S. and around the world.
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