Canada’s Tim Hortons gets undisclosed investments from Tencent Holdings

Canadian coffee Brewer, Tim Hortons said Tuesday that it’s Chinese unit received an investment from Chinese tech giant Tencent.

The announcement is coming as the Canadian coffee brewer seeks to expand in the Chinese market.

Tim Hortons said in a statement on its Weibo account monitored by Reuters that it will use the funds to upgrade digital infrastructure and open more stores in China.

The company said it would expand store numbers in China from 50 now to 1,500.