One of the biggest restaurant companies in North America, Tim Hortons of Canada, has announced on social media that it will be opening hundreds of locations in Pakistan this year. First Outlet of Tim Hortons to Launch in Lahore Pakistan on 11th February
“As we continue to grow Tim Hortons around the world: Tims is opening in Pakistan this year,” the company posted on its official LinkedIn account.
For a nation that has had difficulty luring FDI, which totaled only $1.285 billion in the first nine months of this fiscal year, a 2% fall from the same period last year, the development is crucial.
Tim Hortons revealed in March that it had reached an exclusive arrangement with a joint venture company owned by Apparel Group and Gateway Partners under which it would open its doors in India later this year.
“The first restaurant is set to open in New Delhi and there are plans to launch over 300 locations across the country over the next 10 years,” said the company.
Currently, there are more than 5,100 Tim Hortons locations spread across 13 nations, including the United States, Mexico, Spain, the United Kingdom, the Middle East, China, Thailand, and the Philippines.
Tim Hortons and Burger King reached an agreement on August 26, 2014, for a price of $11.4 billion. On December 15, 2014, the two chains were made subsidiaries of the Canadian-American holding company Restaurant Brands International, which is owned to a large extent by the Brazilian investment corporation 3G Capital.
