FILE PHOTO: A Tim Hortons logo is pictured in Montreal, Quebec, Canada, October 18, 2019. REUTERS/Carlo Allegri
HONG KONG (Reuters) – Tim Hortons China said Tuesday it received an investment from Chinese tech giant Tencent, as the Canadian coffee brewer seeks to expand in the Chinese market.
Tim Hortons said in a statement on its Weibo it will use the funds to upgrade digital infrastructure and open more stores in China. The company said it would expand store numbers in China from 50 now to 1,500.
Reporting by Pei Li; Editing by Christian Schmollinger