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Marubeni Corporation (“Marubeni”), through its Singapore-based wholly-owned subsidiary, Marubeni Growth Capital Asia Pte. Ltd. (“MGCA”), has entered into an exclusive agreement with Tim Hortons Asia Pacific Pte. Ltd. (“Tim Hortons APAC”) to bring Tim Hortons® to Singapore. Marubeni is also engaged in discussions with Tim Hortons APAC to bring Tim Hortons to Malaysia and Indonesia, subject to obtaining regulatory approvals and finalizing agreements. Tim Hortons, Canada’s iconic coffee brand, is owned by Restaurant Brands International (“RBI”), one of the world’s largest franchisers of quick service restaurants.

According to the International Coffee Organization, increasing coffee consumption has become a well-established global trend, and in Southeast Asia, coffee consumption is expected to grow faster than this trend, driven by economic development such as rising income levels and increased urbanization. and changes in consumer behavior. Particularly among millennial and generation Z consumers, coffee shops are increasingly being used as social venues and online ordering and delivery services to meet customers’ desire to drink fresh coffee at any time and at any place. Cafes are also now the “third place” of social congregations, beyond work and home.

Tim Hortons is a chain of coffee and bakery restaurants founded in Canada in 1964 that offers high-quality coffee with a wide range of complementary fresh baked goods, with more than 5,600 stores in 14 countries around the world . Over the past 59 years, Tim Hortons has captured the hearts and taste buds of Canadians and guests around the world and has become synonymous with serving Canada’s favorite coffee. MGCA plans to serve quality coffee and fresh food tailored to the tastes of local consumers, and offer an international café experience to its customers.

Marubeni established the Next Generation Corporate Development division in 2022 to invest in companies that capture the growth of the next generation of consumers in Southeast Asia and the American MGCA was founded as a new platform in Singapore to focus on investments in the vast consumer sector in Southeast Asia. The development and operation of Tim Hortons cafes represents the first investment in Southeast Asia made by the Next Generation Corporate Development division.