CBJ — It’s a long way from its first store in Hamilton, Ontario, in 1964, but now Tim Hortons has signed an agreement with a private equity firm to expand in China.

Cartesian Capital Group will develop and open more than 1,500 Tim Hortons restaurants in China over the next 10 years.

Tim Hortons president Alex Macedo said the company’s two main priorities are building and strengthening the brand in Canada and expanding the brand to the rest of the world.

Tim Hortons has more than 4,700 restaurants in Canada, the United States and around the world.

@CanBizJournal