Tim Hortons to expand into Mexico

Tim Hortons is planning on expanding into Mexico in the near future, the coffee and doughnut chain's owner said Friday.

Restaurant Brands International says it has set up a joint venture with a group of investors in Mexico. The new company will be the primary franchisee in the country, "responsible for developing and growing the brand in the country."

The move marks the first time the iconic Canadian chain has expanded into Latin America. "Our partners have a deep understanding of the foodservice industry in Mexico, which we believe will serve them well in growing the brand in the region and delivering an excellent experience," said Tim Hortons president Elías Díaz Sesé.

As of September, there were 4,400 Tim Hortons locations around the world. Last year, Tim Hortons announced plans to expand into Great Britain and the Phillipines.