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Tim Hortons’ China arm to go public through SPAC merger, plans large-scale expansion

News Snapshot:

TORONTO — Tim Hortons in China is planning to go public in a deal that could significantly increase the number of the coffee and doughnut chain’s locations in the country to more than 2,750 restaurants in five years. Restaurant Brands International says TH International Ltd. — its joint venture with private equity firm Cartesian Capital Group, which launched its first restaurant in China in 2019 — has entered into a business combination agreement with Silver Crest Acquisition Corp. The company says the deal with Silver Crest, a special purpose acquisition company, would see TH International traded on the Nasdaq stock…

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