Tim Hortons Reaches Agreement for up to 120 Restaurants over Five-years in Gulf Cooperation Council Markets

Tim Hortons (NYSE:

) today announced the next steps in its international development and has signed a Master License Agreement (MLA) with Apparel Group based in Dubai for up to 120 multi-format restaurants in markets in the Gulf Cooperation Council (

). This announcement follows a comprehensive assessment and due diligence process. Based on success in our initial market entry in the GCC region, our international growth strategy is designed to then evaluate potential additional regional market entries following the first few years of international development.