Restaurant Brands to boost outlets by 54% in 8-10 years

Restaurant Brands to boost outlets by 54% in 8-10 years

"RBI is fundamentally a growth company, with three unbelievable, 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.

"More so than worrying about competition, I worry about how we make the products that we now have on the shelf obsolete by improving them", Brown said in early May.

The company says it is opening the equivalent of a new restaurant every seven hours.

Tim Hortons guests will be able to enjoy a Beyond Meat® Breakfast Sandwich, a Beyond Meat® Farmers Breakfast Wrap and a Beyond Meat® Vegan Sandwich. It plans to open more than 1,500 coffee shops in the country over 10 years.

As of today, Tim Hortons is officially testing out Beyond Meat breakfast items in select stores across Canada.

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In addition to its growth plans, the company also announced it is jumping on the plant-based protein trend.

Following Tim Horton's announcement that it was going to be introducing three new sandwiches using plant-based meat substitutes, share prices for Beyond Meat immediately skyrocketed. It hopes to roll out the products nationally by the end of the summer, depending on the results of the pilot.

RBI is well-positioned to take advantage of compelling long-term growth in the global quick service restaurant (QSR) market, with the 5-year outlook for growth in the global burger market expected to be 5% annually and growth in the global coffee and chicken markets expected to be 6% annually.

Last month, the company reported a 0.6 per cent drop in comparable sales at Tim Hortons for the quarter ended March 31, while same-store sales at Burger King grew 2.2 per cent, less than 3.8 per cent a year earlier. The Lightlife burger will be available at 70 Kelsey's Original Roadhouse locations starting June 3.

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