Tim Hortons China to Combine With Silver Crest Acquistion Corp.
August 16 2021 - 04:19PM
Dow Jones News
By Josh Beckerman
Blank-check company Silver Crest Acquisition Corp. agreed to
merge with Tim Hortons China in a deal with an implied enterprise
value of $1.69 billion.
The deal is expected to close in the fourth quarter.
In 2018, Restaurant Brands International's Tim Hortons chain
said it entered a joint venture agreement with Cartesian Capital
Group to bring Tim Hortons restaurants to China. Investors in Tim
Hortons China include Sequoia Capital China and Tencent Holdings
Ltd.
An investor presentation discusses growth plans for the chain,
and its success with localized products, such as changing Timbits
to mochi holes.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
August 16, 2021 16:15 ET (20:15 GMT)
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