DUBLIN, OH and SCOTTSDALE, AZ, June 30 /CNW/ - Tim Hortons Inc. (NYSE:
THI, TSX: THI), one of North America's largest quick service restaurant chains
with more than 3,500 locations in Canada and the United States, today
announced that its premium coffee, always fresh baked goods and variety of
soups and sandwiches will soon be available to New Yorkers as part of its
ongoing co-branding test with Cold Stone Creamery.
Tim Hortons will open co-branded stores in August at three Cold Stone
Creamery locations in Manhattan, including Cold Stone's flagship Times Square
location on West 42nd Street.
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. In
June, the companies announced a similar initiative in Canada with six
co-branded test locations. Currently, more than 40 restaurants have been fully
rebranded to the combined Cold Stone Creamery and Tim Hortons concept.
Tim Hortons is the number one quick service restaurant in Canada, the
fourth largest in North America by market capitalization and has more than 500
stores in the United States, where it has operated a headquarters in Dublin,
Ohio since 1996.
"Culturally and commercially, New York is a market we are eager to
pursue," said David Clanachan, chief operations officer for U.S. and
international, Tim Hortons Inc. "The ongoing co-branding program with Cold
Stone Creamery is a good way to test the market. We're encouraged by the
success of existing co-branded test locations in the U.S. and Canada and look
forward to extending the Tim Hortons commitment to freshness, quality and
affordability to New Yorkers."
"The conversion of our flagship store to a Tim Hortons-Cold Stone
co-brand represents the continued success of the co-branding initiative
between two world-class brands," said Kevin Blackwell, chairman and CEO of
Kahala Corp, the parent company of Cold Stone Creamery. "The addition of Tim
Hortons allows us to offer our customers even more fresh and delicious options
morning, noon and night."
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. More
information about the Company is available at www.timhortons.com.
About Cold Stone Creamery
Cold Stone Creamery delivers The Ultimate Ice Cream Experience(R) through
a community of franchisees who are passionate about ice cream. The secret
recipe for smooth and creamy ice cream is handcrafted fresh daily in each
store, and then customized by combining a variety of mix-ins on a frozen
granite stone. Headquartered in Scottsdale, Ariz., Cold Stone Creamery is
subsidiary of Kahala Corp, one of the fastest growing franchising companies in
the world, with a portfolio of 12 quick service restaurant brands. Cold Stone
Creamery operates more than 1,450 locations in 12 countries worldwide.
For more information about Cold Stone Creamery, visit the brand's Web
site at www.coldstonecreamery.com. For more information about Kahala, visit
the company's Web site at www.kahalacorp.com.
Tim Hortons Safe Harbor Statement
Certain information in this news release, particularly information
regarding future economic performance, finances, and plans, expectations and
objectives of management, is forward-looking as contemplated under the Private
Securities Litigation Reform Act of 1995. Various factors including those
described as "risk factors" in the Company's 2008 Annual Report on Form 10-K,
filed February 26, 2009, and those risk factors set forth in our Safe Harbor
Statement available on our website, as well as other possible factors not
listed or described in the foregoing, could affect the Company's actual
results and cause such results to differ materially from those expressed in
forward-looking statements. As such, readers are cautioned not to place undue
reliance on forward-looking statements contained in this news release, which
speak only as of the date and time made.
Except as required by federal or provincial securities laws, the Company
undertakes no obligation to publicly release any revisions to the forward
looking statements contained in this release, or to update them to reflect
events or circumstances occurring after the date of this release, or to
reflect the occurrence of unanticipated events, even if new information,
future events or other circumstances have made the forward-looking statements
incorrect or misleading. Please review the Company's Safe Harbor Statement at
For further information:
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