Tim Hortons Inc. (NYSE: THI, TSX: THI) announced that its coffee drinks, baked goods, and variety of soups and sandwiches will soon be available to New Yorkers as part of its ongoing co-branding test with Cold Stone Creamery.
Tim Hortons will open co-branded stores in August at three Cold Stone Creamery locations in Manhattan, including Cold Stone's flagship Times Square location on West 42nd Street.
The two organizations announced a co-branding test initiative in March 2009 involving up to 50 locations in the U.S. for each chain, following a successful test in two Rhode Island Tim Hortons locations. In June, the companies announced a similar initiative in Canada with six co-branded test locations. Currently, more than 40 restaurants have been fully rebranded to the combined Cold Stone Creamery and Tim Hortons concept.
"Culturally and commercially, New York is a market we are eager to pursue," says David Clanachan, chief operations officer for U.S. and international, Tim Hortons Inc. "The ongoing co-branding program with Cold Stone Creamery is a good way to test the market. We're encouraged by the success of existing co-branded test locations in the U.S. and Canada and look forward to extending the Tim Hortons commitment to freshness, quality and affordability to New Yorkers."
"The conversion of our flagship store to a Tim Hortons-Cold Stone co-brand represents the continued success of the co-branding initiative between two world-class brands," says Kevin Blackwell, chairman and CEO of Kahala Corp, the parent company of Cold Stone Creamery. "The addition of Tim Hortons allows us to offer our customers even more fresh and delicious options morning, noon, and night."