Economy

Tim Hortons parent company RBI wants to have 40,000 restaurants worldwide

Tim Hortons parent company RBI wants to have 40,000 restaurants worldwide

About TIM HORTONSTim Hortons is one of North America's largest restaurant chains operating in the quick service segment.

"Canadians are looking to incorporate plant-based options into their diets and we're thrilled to partner with Beyond Meat® to test three Beyond Meat Breakfast Sandwiches - including an entirely vegan offering if the market test confirms the potential we see for the platform", says Alex Macedo, President of Tim Hortons in a release.

Beyond Meat Inc. shares soared another 12% Wednesday, after Canadian fast-food chain Tim Hortons said it is adding the company's plant-based meat to its breakfast menu. Macedo also stated that they were pretty much excited to be partnering with the leading plant-based meat substitute producer in the world for their new menu items. But with its shares now trading for more than 50 times sales, investors may want to wait for a pullback in Beyond Meat's stock price before buying in to this sizzling recent IPO. The company has already more than doubled its units since 2010, from approximately 12,000 to almost 26,000 today, while system-wide sales have grown from approximately $15 billion to more than $32 billion in the same time period.

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Get ready to start your day the plant-based way. As it stands, the company's public valuation is now around $5.35 billion with its stocks trading as high as $91.80 per share. Unlike previous iterations of plant-based meat products, Beyond Meat has managed to develop the technology to the point where its products are no longer distinguishable from the real thing in terms of texture and taste.

Beyond Meat also sells its products in supermarkets and at Amazon.com Inc's Whole Foods Market.

"There's momentum for very large operators to fulfill this meat-eater demand", David Lee, Impossible Foods' chief financial officer, recently told Business Insider.

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