Restaurant Brands International Inc. told attendees at its investor day Tuesday that it will grow its Burger King, Tim Hortons and Popeyes brands to more than 40,000 units over the next eight to 10 years, making it one of the world's biggest restaurant companies.
CEO Jose Cil said the company has plenty of room to grow.
Big fast food chains, including McDonald's Corp and Kentucky Fried Chicken (KFC)-owner Yum Brands Inc, have been aggressively expanding their worldwide operations to counter slowing growth in the United States.
The company says it is opening the equivalent of a new restaurant every seven hours. It's also growing rapidly in India after developing a special lamb-based Whopper.
System-wide sales at the three chains have more than doubled to $32 billion annually since 2010.
Yet another popular fast food chain is jumping on the Beyond Meat bandwagon, bringing vegans more food options than ever before! But that growth slowed in 2018 in the fiercely competitive industry.
RBI is well-positioned to take advantage of compelling long-term growth in the global quick service restaurant (QSR) market, with the 5-year outlook for growth in the global burger market expected to be 5% annually and growth in the global coffee and chicken markets expected to be 6% annually. Burger King partners with GrubHub, DoorDash and Postmates to deliver the food.
The Beyond Meat Breakfast Sandwich features the vegan plant-based patty with eggs and cheese, while the Vegan Sandwich swaps eggs and cheese for simply the vegan patty with tomatoes and lettuce.
Beyond Meat describes itself as "plant-based burgers, sausages, crumbles and more made directly from simple plant-based ingredients", according to its website.
Burger King said its subscription coffee service which charges $5 per month is also bringing in US customers, with coffee sales up 50 percent since it launched in March. Restaurant Brands shares rose 1.5% and have gained about 20% in the last 12 months, while the S&P 500 has gained 5%.