Tim Hortons has a new partner that will help expand the Canadian restaurant brand in the state of Indiana.
The Ontario-based chain says Luke Family of Brands will become its exclusive representative in the cities of Indianapolis and Lafayette.
Tim Hortons says Indiana is a prime growth opportunity given its presence in the neighbouring state of Ohio, where it has similar agreements in Cincinnati and Columbus.
The Luke Family agreement was announced as the parent of Tim Hortons and Burger King announced its financial results for the quarter and 12 months ended Dec. 31 — the first full year since the two restaurant companies have been together.
For the full year, Restaurant Brands International had US$4 billion of total revenue, including about US$1 billion in the fourth quarter.
Net income was $103.9 million, including $51.7 million or 25 cents per share in the three months ended Dec. 31.
RBI’s adjusted net income — another measure of earnings that excludes certain items — was $561.1 million for the full year and $165.7 million or 35 cents per share for the fourth quarter.
