Restaurant Brands International (RBI), a multinational operator of the Burger King and Tim Hortons chains, is planning to expand its restaurant portfolio from 26,000 restaurants to more than 40,000 restaurants globally over the next eight to ten years.
The company’s plans were revealed at its first investor day, held in New York City, that was aimed at outlining growth plans for its Burger King, Tim Hortons and Popeyes brands.
Restaurant Brands International CEO Jose Cil said: “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.
“We have a proven history of generating very strong returns for our shareholders and today we are excited to share more insight than we ever have before to support our belief that all three brands have substantial growth ahead.”
RBI established a master franchise network in global markets over the past few years and expanded its restaurant base from approximately 12,000 in 2010 to nearly 26,000.
The company aims to take advantage of the long-term growth in the global quick service restaurant (QSR) market as the global burger market is expected to grow 5%, and coffee and chicken markets 6% annually over the next five years.
Last month, RBI reported total revenues of $1.26bn for the first quarter ending 31 March 2019.
The year-on-year change in total revenues was primarily driven by system-wide sales growth on an organic basis. RBI saw consolidated system-wide sales growth of 6.4%.