Tim Hortons Inc. (NYSE: THI) and Kahala Corp – parent company of Cold Stone Creamery – today announced an extension of the companies’ successful co-branding test to six Tim Hortons restaurants in Canada.
The two organizations announced a co-branding test initiative in March 2009 involving up to 50 locations in the United States for each chain following a successful test in two Rhode Island Tim Hortons locations. Currently, a total of 38 restaurants have been fully rebranded to the new combined Cold Stone Creamery and Tim Hortons concept.
“Our customers have responded enthusiastically to our co-branded test locations in the U.S. and the signature Cold Stone product offerings available at our restaurants,” said Roland Walton, chief operations officer, Canada, Tim Hortons Inc. “We will test the co-branded platform in six Canadian restaurants to determine the potential in Canada and our ability to maintain the same high standard of quality and service our customers expect.”
“The combination of these two strong complementary brands has created a positive consumer response in U.S. test locations,” said Dan Beem, president, Cold Stone Creamery. “We look forward to introducing our premium ice cream indulgences to the Canadian market and leveraging Tim Hortons’ tremendous market share and reputation for quality and freshness.”
All six co-branded locations are targeted to be opened by the end of June. The six locations will be in Mississauga, Hamilton, Toronto, Oakville and Pickering.
About Tim Hortons Inc.
Tim Hortons is the fourth largest publicly-traded quick service restaurant chain in North America based on market capitalization, and the largest in Canada. Tim Hortons appeals to a broad range of consumer tastes, with a menu that includes coffee and donuts, premium coffees, flavored cappuccinos, specialty teas, home-style soups, fresh sandwiches and fresh baked goods. As of March 29, 2009, Tim Hortons had 3,457 systemwide restaurants, including 2,930 in Canada and 527 in the United States.
