The former Carlyle Group Managing Director will advise the Canadian restaurant group on new master franchise partnerships for its Tim Hortons, Burger King and Popeyes brands in the region
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Siewert currently sits on the board of Mondelēz International | Photo credit: Mondelēz International
Restaurant Brands International (RBI) has appointed former Carlyle Group executive Patrick Siewert as a Senior Advisor for its Asia Pacific operations.
Siewert served as Managing Director for Carlyle Group in Asia 2007-2023, responsible for the private equity firm’s consumer, media, and retail investments in the region. Notably, he led the acquisition of a 28% stake in fast-food giant McDonald’s China and Hong Kong business in 2017. He was also involved in the acquisition of South Korean coffee chain A Twosome Place for an undisclosed sum in November 2021.
Based in Hong Kong, Siewert will primarily focus on hiring ‘top talent’ and sourcing new master franchise partnerships across the Tim Hortons, Burger King and Popeyes fast-casual chains.
In a press release, RBI said Siewert’s ‘deep network of relationships’ in the region would strongly contribute to its goal of opening at least 7,000 new international stores across its portfolio by the end of 2028.
“We all view the Asia-Pacific region as one of the largest growth opportunities for our brands in the coming years. I’m excited and thankful that Patrick has agreed to join us as a Senior Advisor to help us realise our many opportunities in the region,” said Josh Kobza, CEO of RBI.
Toronto-based RBI currently operates more than 31,000 stores globally, including nearly 5,000 across Asia – more than half of which are in China. In February 2024, Kobza identified China as a key growth market for Tim Hortons. The coffee chain currently has over 900 stores in East Asia’s largest branded coffee shop market via a joint venture with private equity firm Cartesian Capital Group.
RBI boosted its Tim Hortons presence in East Asia last year with market debuts in Singapore and South Korea, adding to stores in China, Thailand and the Philippines.
Prior to the Carlyle Group, Siewert served as Chief Operating Officer and Group President for Coca-Cola in Asia and currently sits on the board of Mondelēz International.