TORONTO—Restaurant Brands International wants to become one of the largest restaurant companies in the world, reports CNBC. To do that, it’s planning to add 14,200 additional restaurant locations in the next 10 years to reach a total of 40,000.
Restaurant Brands International had 25,809 locations of Burger King, Popeyes Louisiana Kitchen and Tim Hortons as of March 31. Hitting 40,000 will increase the company’s store count by 55%. In comparison, McDonald’s had 37,791 open at the end of the first quarter 2019. Yum Brands is at nearly 55,000 locations with KFC, Pizza Hut and Taco Bell.
Last year, the company opened 1,300 locations—or a new store every seven hours. Most of these openings were international Burger King locations in places like China and Russia. To hit 40,000 in 10 years, the company will need to open 1,400 a year. CNBC says it is still unclear if the additional 14,200 stores will be split evenly among the three brands.
“RBI is fundamentally a growth company, with three amazing, iconic brands that we believe have a very long runway for growth—both at home and around the world,” CEO Jose Cil said in a statement.
Formed five years, ago, RBI’s stock has gained 27% in the past year alone—pushing its market value to more than $30 million.