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Canadian coffee chain Tim Hortons has inked a deal with Marubeni Growth Capital Asia to launch in Singapore as part of its strategy to roll out “hundreds” of stores across Southeast Asia in the next decade.
Tim Hortons is aiming to reach US$300 million in revenue.
Tim Hortons Asia Pacific is also in talks with the Japanese trading group is also in talks with to take the chain into Malaysia and Indonesia.
Marubeni will open stores in Singapore and Malaysia in the next fiscal year and in Indonesia in the fiscal year 2024.
The development and operation of Tim Hortons coffee shops mark the first investment in the region by MGCA, founded as a new platform in Singapore to focus on investments in the broad consumer sector in Southeast Asia.
Earlier this month, Tim Hortons opened its first outlet in Pakistan through a franchise deal with local firm Blue Foods.
Tim Hortons, which has over 5600 stores in 14 countries, is owned by Restaurant Brands International, along with Burger King and Popeyes.
