By acquiring the exclusive rights to develop and sub-franchise the brand, Tim Hortons China’s exclusive operator, TH International (Tims China) plans to revive the fried chicken chain Popeyes in China and Macau. The deal is subject to customary closing conditions, and the company expects it will bolster Tims China’s balance sheet and bring a significant amount of cash.

Popeyes planned to open 1500 stores across China in the next ten years when it entered the country in 2020 as part of a deal with Tab Foods Investments. However, because of the lasting effects of Covid-19 in the nation, the chain failed after just opening nine stores.

By the end of 2023, 1000 stores of Tim Hortons and Popeyes will be opened in China, according to Peter Yu, chairman of Tims China.

According to Yongchen Lu, CEO of Tims China, the two brands are a perfect fit, with complementary product offerings and exceptional growth potential. Both brands will benefit from greater scale, a stronger financial model, and synergies, including in the supply chain and new restaurant development.

TH International Limited was founded by Cartesian Capital Group and Tim Hortons Restaurants International, a subsidiary of Canadian-headquartered Restaurant Brands International which owns the Popeyes, Burger King and Tim Hortons brands. 

Cartesian Capital Group was chosen as franchisee of Popeyes in the plan for China relaunch in August of last year. In Korea, Popeyes also re-entered this market by franchise agreement with local operator Silla Co, two years after closing its business,

Popeyes has more than 3900 stores worldwide.

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