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).
According to TechCrunch, the doughnut and coffee chain announced the funding on its Weibo social media account. Details on the amount were not available.
Image source: Tim Hortons.
Source Fool.com
