McDonald’s buys back Israel franchise from Omri Padan

McDonald’s buys back Israel franchise from Omri Padan

After 30 years as the franchisee, Omri Padan, owner and CEO of Alonyal Ltd., which operates and maintains the McDonald’s Israel fast food chain, has announced that he has signed an agreement to sell the company to the McDonald’s global chain. McDonald’s Israel operates 225 fast food outlets and has 5,000 employees. When the deal is completed McDonald’s will have full ownership of McDonald’s Israel and says that the employment terms of the workforce will remain unaffected.

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Padan said, “For 30 years Alonyal Ltd. has been proud to operate McDonald’s in Israel and to serve millions of customers. McDonald’s Israel is the leading and most successful restaurant chain in Israel and for this we give heartfelt thanks to the management, employees, suppliers and customers that made this possible. We feel certain of the company’s success in the future.”

McDonald’s president international developmental licensed market Joe Sempels said, “We thank Alonyal for building the McDonald’s business and brand in Israel over the past 30 years. McDonald’s remains committed to the Israeli market and to ensuring a positive employee and customer experience in the market going forward.”

The full terms of the agreement will be closed over the coming few months.

According to sources in the industry, after the deal is completed, McDonald’s plans to sell the business to a new Israel franchisee as is customary for it worldwide. 95% of McDonald’s fast food outlets are owned on the franchise model.

Published by Globes, Israel business news – en.globes.co.il – on April 4, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.

The post McDonald’s buys back Israel franchise from Omri Padan first appeared on Investorempires.com.

 

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