Tim Hortons is expanding and raising prices

August 1st, 2017  |  Canadian Business

Restaurant Brands International, the company that owns Tim Hortons, has announced that they will be expanding to Spain, with plans to also bring the Canadian brand to Mexico, Great Britain, and the Philippines.

"We are thrilled to announce plans to launch the iconic Tim Hortons brand in Spain, which is one of the largest cafe markets in Europe," said RBI CEO, Daniel Schwartz.

RBI, who also owns Burger King and Popeyes, has seen a dip in profits in comparison to last year’s numbers. Over the past 3 months ending on June 30^th profits were $89.5 million, slightly down from last year’s $90.9 million. However, on a whole, their total revenue has increased to $1.13 billion, up from last year’s $1.04 billion, thanks largely in part to their acquisition of the Popeyes brand.

These numbers have been coming in as RBI deals with internal revolt with Tim Hortons’ Canadian and US franchisees, who have been claiming that the company’s head office has been mismanaging the franchisees while driving up expenses and penny pinching funds.

RBI has rebuffed the claims, and praised the franchisees on their hard work over the past quarter.

"We appreciate all of the hard work from our franchisees and their teams to deliver a great guest experience, and we are confident in our ability to create further value for all of our stakeholders for many years to come," said Schwartz.

Along with the profit numbers, RBI has announced a slight price increase on some Tim Hortons products, including hot beverages and breakfast items.