The parent company of Burger King, Popeyes Louisiana Kitchen and Tim Hortons said Wednesday it will increase its global locations by 55 percent in an effort to become one of the world’s largest restaurant conglomerates.
Toronto-based Restaurant Brands International (RBI) presently has nearly 26,000 locations worldwide but said it plans to add another 14,200 over the next decade.
RBI opened 1,300 locations last year and sales have risen from $16 billion in 2010 to more than $32 billion last year.
“RBI is fundamentally a growth company, with three amazing, iconic brands that we believe have a very long runway for growth, both at home and around the world,” RBI CEO Jose Cil said in a statement Wednesday.
The Tim Hortons brand plans to add new locations throughout China, as business in its native Canada is slowing due to increased competition. Popeyes, acquired by RBI two years ago, is the smallest of RBI’s chains, with 3,120 locations.
Competitor Yum Brands has 50,000 locations worldwide for its brands, including Taco Bell, KFC and Pizza Hut.
