The parent company of Burger King, Popeyes and Tim Hortons had 25,809 locations open as of March 31.
. But while 3G has pushed cost-cutting at the food and beverage conglomerates, Restaurant Brands has focused on expanding its footprint.
Since the start of the year, the company's stock has gained nearly 27%, pushing its market value to more than $30 billion. At that level, the company's value is about even with that of Yum Brands, but it is still a fraction of McDonald's $152.6 billion market capitalization. It is unclear if the roughly 14,200 additional stores will be spread equally across its three brands. With 17,823 stores at the end of March, Burger King has more than triple the number of stores as Tim Hortons, the company's second largest chain. Popeyes, which RBI acquired two years ago, has the least amount of stores at 3,120 as of the end of its first quarter.
Restaurant Brands had previously announced plans for Tim Hortons' expansion in China. The Canadian coffee chain accounted for nearly 60% of its first-quarter revenue, but growth in its home market is slowing. It will join Starbucks and the soon-to-public Chinese chain Luckin Coffee in the battle to win over customers in the rapidly expanding coffee market. Tim Hortons plans to open 1,500 locations across the country in the next decade.
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