Chinese tech behemoth Tencent Holdings Ltd. Is now investing in the Tim Hortons expansion into China after agreeing to a deal with the private equity firm in charge of the coffee chain operations in the country.The partnership with Tencent which is behind the social media and mobile pay system WeChat that has become ubiquitous in China will help boost the digital expertise at Tim Hortons for a market far more familiar with online ordering and delivery.Since the start of its expansion into China in 2018, Tim Hortons has entrusted its on the ground operations to the global private equity firm Cartesian Capital Group LLC, which acts as the chain master franchisor in the region. Cartesian on Tuesday announced the investment deal with Tencent, although how much the company was investing or how any payback structure might work was not made public.Tim Hortons owner says coronavirus may change restaurants forever as chain lays out path to new normalCoronavirus pandemic takes huge bite out of Tim Hortons’ sales as Canadians stay homedo not disclose our investment amount in Tim Hortons China, Tencent said in an email to the Financial Post.
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