A Popeyes restaurant. [Photo/Shanghai Observer]

Restaurant Brands International (RBI) has announced its plans to make significant strategic moves in China, reinforcing its commitment to the country's economic growth.

The global restaurant conglomerate has acquired Popeyes China operations and made a joint investment with Cartesian Capital into Tims China, totaling $45 million. Popeyes is set to establish its headquarters in Shanghai's Huangpu district, according to RBI.

Since opening its first flagship store in Shanghai in August 2023, Popeyes China has rapidly expanded to 14 restaurants. With RBI's full control, Popeyes plans to accelerate its growth, aiming to open more outlets nationwide and bring its iconic fried chicken to a broader Chinese market.

RBI's investment with Cartesian Capital in Tim Hortons China will expand the brand's market presence, offering more high-quality coffee options and supporting Shanghai's development as an international consumption hub.

Rafael Odorizzi, president of RBI Asia-Pacific, stated that both Popeyes and Tim Hortons view China as one of the world's most promising markets. Their investment in China is a response to consumer demands and a significant step in driving innovation in the global fast-food industry.

RBI's portfolio includes renowned brands such as Tim Hortons and Burger King. This substantial investment in China not only accelerates Popeyes' expansion but also injects new vitality into Tim Hortons' growth in China, signaling the arrival of more international dining options in the Chinese fast-food market.

Following the acquisition, RBI will continue to invest in Popeyes China. The decision to establish Popeyes' China headquarters in Huangpu district reflects the area's unique commercial appeal and strong growth potential. An RBI representative noted that Huangpu's favorable business environment, policies, and efficient administrative services reduce operational costs and enhance competitiveness.

By settling in Huangpu district, RBI can swiftly respond to Chinese consumer needs and further advance the brand's global market strategy, said the representative.

Source: Shanghai Observer