Tims China opens 300th coffee shop
Shanghai, China - Apr 5, 2020: Close up logo of a Tims coffee house cafe with brand logo at Shanghai Pudong. Image credit: Andy Feng / Shutterstock.com
TH International Limited (together with its wholly owned subsidiaries, THIL or Tims China) has opened its 300th coffee shop in China.
The milestone store opening in Tianjin was celebrated with 500 guests who visited on opening day, and the occasion marked the launch of a national “Tims 300” marketing program.
Tims China holds the exclusive master franchise rights for Tim Hortons coffee shops in China. Formed in 2019 by private equity firm Cartesian Capital Group, Tims China brings an iconic coffee and bakeshop to one of the fastest-growing coffee markets in the world.
Tims China offers a broad menu of specialised food and beverages, and boasts three store formats to provide its guests maximum convenience. Currently digital ordering (both in-store and delivery) represents more than 70% of Tims China’s total revenues.
With this latest opening, Tims China has more than doubled its store count since the start of 2021.
“The opening of our 300th store is both a proud moment for all of us, as well as a major milestone for the Tim Hortons brand. By providing high-quality food and drink at great prices, we are well-positioned to be an emerging coffee champion in China,” said Yongchen Lu, chief executive officer of Tims China.
Overview of the Transactions Contemplated by the Merger Agreement
THIL and Silver Crest Acquisition Corporation, a publicly traded special purpose acquisition company, have signed a definitive agreement related to a proposed business combination that would result in THIL becoming a public company. As a result of the business combination, THIL will continue as the parent/public company and will retain the name “TH International Limited”. THIL intends to apply for listing of its ordinary shares on the NASDAQ Stock Market under the proposed symbol “THCH” to be effective at the consummation of the business combination.
