McDonald’s Corporation (NYSE:MCD) announced it has been signed an agreement with Omri Padan, owner and CEO of Alonyal Limited, to buy back all 225 franchise locations in Israel owned by Alonyal.
Upon completion of the transaction, McDonald’s Corporation will own Alonyal’s restaurants and operations, and employees will be retained on equivalent terms.
The financial terms of the transaction were not disclosed. While the companies did not offer an explanation on the roots of the deal, the fast-food chain has been the subject of global boycott movements after McDonald’s Israel donated thousands of free meals to Israeli forces and citizens after the Oct. 7 attack the Hamas terrorists.
“We thank Alonyal Limited for building the McDonald’s business and brand in Israel over the past 30 years,” said Jo Sempels, president of international developmental licensed markets at McDonald’s Corporation. “McDonald’s remains committed to the Israeli market and to ensuring a positive employee and customer experience in the market going forward.”
“For more than 30 years, Alonyal Limited has been proud to bring the Golden Arches to Israel and serve our communities,” said Padan. “We’ve grown the brand to be the leading and most successful restaurant chain in Israel and are grateful to our management, employees, suppliers, and customers who made this possible. We are encouraged by what the future holds.” said Omri Padan, CEO and owner of Alonyal Limited.
Photo: M.G. / Flickr Creative Commons
;
