TAGS: Tim Hortons, vending, office coffee service, Marc Caira, Tim Hortons expansion
OAKVILLE, ON, Canada -- Tim Hortons Inc.'s new chief is eyeing vending as part of a strategy to grow Canada's largest coffee and doughnut chain. Chief executive Marc Caira, who took the helm of the Canadian doughnut and coffee giant in May, said Tim Hortons is looking at vending machines as a way to expand into workplaces to add incremental sales.
Caira previously held executive roles at Nestlé's global operations, where he helped expand its hot and cold beverage division. He said he sees a big opportunity for Tim Hortons to sell its brands beyond its own stores, as it does with single-serve coffee. | READ MORE
The Tim Hortons chief also said the coffee chain is concentrating growth plans on the U.S., as expansion by McDonald's and Starbucks have slowed its growth at home. The company has about 800 locations in the U.S. and 3,500 in Canada
Tim Hortons double-digit revenue growth over the past decade slowed last year to 9.4%, compared with 12.5% in 2011 and 14.2% in 2004.