Tim Hortons China raises fresh cash, plans to add over 200 shops in 2021
Reuters
Published Feb 25, 2021 09:46PM ET
BEIJING (Reuters) - Tim Hortons China has completed a new fundraising round from Sequoia Capital China, Tencent Holdings (OTC:TCEHY) and Eastern Bell Capital, the coffee chain said on Friday.
The funds will be used to expand its outlet network in the country, build digital infrastructure and invest in its brand, according to a statement posted on Tencent Investment's official WeChat account.
Tim Hortons China confirmed the details, but did not disclose how much money was raised.
Tim Hortons China also said it aims to add more than 200 shops in 2021 in China, and its plan of opening 1,500 stores in the country "in the next few years" remain unchanged. The coffee chain currently operates more than 150 shops in China, after entering the country two years ago.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.