Tim Hortons in China is planning to go public in a deal that could significantly increase the number of the coffee and doughnut chain's locations in the country to more than 2,750 restaurants in five years. The company says the deal with Silver Crest, a special purpose acquisition company, would see TH International traded on the Nasdaq stock exchange. Restaurant Brands says the merger, which still requires regulatory approval, will see Tim Hortons benefit from China's rapidly emerging coffee market. Tim Hortons currently has 199 locations in China with plans to nearly double the chain's footprint by the end of the year. Prior to the merger, Restaurant Brands had said its partnership with Cartesian Capital would see more than 1,500 Tim Hortons restaurants in China in 10 years.

Source: CBC News August 16, 2021 17:15 UTC