Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Germany
  4. Xetra
  5. Metro AG
  6. News
  7. Summary
    B4B   DE000BFB0019


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Tim Hortons China to open coffee shops in Metro's China stores

11/28/2021 | 09:44pm EST
FILE PHOTO: A man walks past a store front poster advertising the opening of a cafe of the Canadian coffee and fastfood chain Tim Hortons in Beijing

BEIJING (Reuters) - The Chinese arm of Canadian coffee chain Tim Hortons said on Monday it has signed a deal with Metro China to open coffee shops in the retailer's stores, as it banks on rising coffee consumption in the world's most populous country.

Tims China said the first batch of seven Tims Go coffee shops, a compact-store model with delivery services, opened on Monday at Metro China stores in four cities. It eventually aims to expand the partnership to 60 cities.

Metro China, a joint venture of Wumart and Metro AG, currently operates 99 stores.

The latest openings bring the store footprint for Tims China, which plans to go public next year, to over 335 stores in 20 Chinese cities, up from 137 stores at the start of the year.

"China is the fastest growing coffee market in the world," Tims China chairman Peter Yu told Reuters.

"As of last year, Chinese per capita consumption of coffee was 5%, so one-twentieth of what it was in Japan, and one-thirtieth of what it was in Canada. So we believe there is tremendous room for us to bring and to help grow a coffee culture here."

In August, Tims China said in an investor presentation filed with the U.S. Securities and Exchange Commission that it expects its stores in China to total more than 2,700 by 2026.

Yu said the COVID-19 pandemic had helped to drive growth in the coffee delivery business.

"So having a smaller format like Tims Go enables us to grow more rapidly," he said.

Tims China, formed in 2019, is a joint venture of Restaurant Brands International and private equity firm Cartesian Capital Group, backed by Tencent and Sequoia Capital.

In August, Tims China said it has agreed to go public in a merger with blank check company Silver Crest Acquisition Corp, valuing the business at $1.69 billion, including debt.

The company is "still doing everything possible" at the moment to close the deal in the first quarter of 2022, said Yu.

(Reporting by Sophie Yu and Brenda Goh; editing by Richard Pullin)

By Sophie Yu and Brenda Goh

ę Reuters 2021
All news about METRO AG
01/03METRO : Invitation General Meeting 2022
01/03METRO : Proposed amendment of the Articles of Association
01/03METRO : Information pursuant to Implementing Regulation (EU) 2018/1212 (EU-DVO) for the no..
01/03METRO : Form for the authorisation and instructions to proxies nominated by the Company or..
01/03METRO : Form for the revocation of proxy and postal vote
2021METRO AG : Receives a Buy rating from Baader Bank
2021METRO AG : Kepler Cheuvreux from Sell to Neutral
2021METRO : Code of Procedure of the Management Board of METRO AG
2021METRO : Curriculum Vitae Claude Sarrailh
2021METRO AG : DZ Bank reiterates its Neutral rating
More news
Analyst Recommendations on METRO AG
More recommendations
Sales 2022 25 927 M 29 367 M 29 367 M
Net income 2022 149 M 169 M 169 M
Net Debt 2022 3 895 M 4 412 M 4 412 M
P/E ratio 2022 23,8x
Yield 2022 3,30%
Capitalization 3 561 M 4 035 M 4 034 M
EV / Sales 2022 0,29x
EV / Sales 2023 0,26x
Nbr of Employees 86 527
Free-Float -
Duration : Period :
Metro AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends METRO AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 11
Last Close Price 9,80 €
Average target price 10,05 €
Spread / Average Target 2,46%
EPS Revisions
Managers and Directors
Steffen Greubel Chief Executive Officer
Christian Baier Chief Financial Officer
JŘrgen B. Steinemann Chairman-Supervisory Board
Rafael Gasset Chief Operating Officer
Gwyneth Victoria Burr Member-Supervisory Board
Sector and Competitors
1st jan.Capi. (M$)
METRO AG6.33%4 078
WALMART INC.-1.50%402 379
THE KROGER CO.8.53%36 116
AHOLD DELHAIZE N.V.0.55%35 238