Restaurant Brands expands in China

Article Excerpt

RESTAURANT BRANDS INTERNATIONAL, $68.39, is a buy. The company (New York symbol QSR; TSI Rating: Average) (www.rbi.com; Shares o/s: 478.0 million; Market cap: $21.2 billion; Yield: 3.2%) reports that TH International Limited (“Tims China”) will now become the exclusive operator and developer of the Popeyes brand in mainland China. Tims China (symbol THCH on Nasdaq) owns the exclusive master franchise for Tim Hortons coffee shops in China, Hong Kong and Macau. For Restaurant Brands, the deal with Tim’s China lets it expand the Popeyes brand in China as part of its broader global growth strategy. Restaurant Brands is still a buy. buy. …