Tim Hortons Secures Tencent Funding for China Expansion
Looking to expand in China to confront Starbucks' (NASDAQ: SBUX) growth directly, Restaurant Brands International's (NYSE: QSR) coffeehouse Tim Hortons said it has secured financing for the strategy from Chinese conglomerate Tencent (OTC: TCEHY). Expanding another coffee chain in a country known for its love of tea may seem counterintuitive, but Starbucks has proved particularly adept at the exercise.