Canadian Tim Hortons to Accelerate U.S. Exposure
February 7th, 2009 at 5:35 pm - by admin
Economic downturn lends itself as a good time for those well-capitalized to begin engaging in investment activities - deflationary effects reduce costs, and the returns from financial market investment falls dramatically. Canadian coffee-and-donut superstar, Tim Hortons Inc., is moving to expand it’s U.S. expansion by partnering with Arizona-based, ice cream house, Cold Stone Creamery.
The partnership will result in converting 50 of existing Cold Stone Creamery locations in to Tim Hortons-Cold Stone splits, and “will leverage complementary traffic patterns, creating cost-efficient opportunities for further growth of both brands,” said both companies Friday.
The companies tested the idea by combining twi of Rhode Island locations with, what they call, “successful early results.”
“Continued development and awareness of the Tim Hortons brand beyond our base of 500 restaurants in the United States is a key element of our overall approach to U.S. growth. Co-branding selected locations with Cold Stone Creamery, one of the most popular ice cream concepts in the United States, is a complementary opportunity we are looking forward to pursuing as part of this test initiative.” said Don Schroeder, C.E.O. of Tim Hortons.
Tim Hortons currently has over 500 locations in the United States.
