Restaurant chain Tim Hortons to expand across the UK. What's its history?
Last week, Canadian restaurant chain Tim Hortons announced it had struck a deal with an investor, allowing it to open its first full-service outlets in England, Scotland and Wales. Tim Hortons already has smaller outlets in Britain, but this will be its first foray into full-service outlets there.
"This deal is part of our growth plan to take the iconic Tim Hortons brand around the world," Daniel Schwartz chief executive of Restaurant Brands International (Tim Hortons owner) said to CBC.
The expansion is set to begin in 2017. Bloomberg predict that Tim Hortons will face competition from McDonalds, Starbucks and Dunkin’ Donuts in the British market.
Last month, Tim Hortons launched a similar deal in the Philippines. Tim Horton’s seems to be strategically expanding across the globe, but how did the chain reach this point of potential global success?
1964
Tim Hortons was founded in by former NHL ice hockey player Tim Horton and business partner Jim Charade. Its first store was in Hamilton; coffee cost 25 cents and donuts were 69 cents a dozen.
1967
Tim Horton and Ron Joyce, the first franchisee, became full partners.
1974
Tim Horton died in a car crash. Ron Joyce assumed full control of the company.
1984
The first U.S. Tim Horton location opened in Tonawanda, New York.
1995
Wendy’s International Inc. purchases Tim Hortons for $400 million. 1000th restaurant opens in Ancaster, Ontario.
2006
Tim Hortons officially becomes public on September 29, 2006, trading on the NYSE and TSX (THI).
2009
Tim Hortons and Cold Stone Creamery announce co-branded restaurants across North America.
2014
The food chain introduces mobile payment options on the TimmyMe app to allow customers to pay with their smartphones. Burger King and 2G Capital buy Tim Hortons to form Restaurant Brands International, the world’s third-largest restaurant brand.
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