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McDonald’s Corporation announced that it will acquire Israel’s Alonyal, which owns 225 McDonald’s stores in Israel. Details of the deal were not released but are subject to certain conditions.
Alonyal has been operating McDonald’s restaurants for more than 30 years, has 225 franchised stores and 5,000 employees, and the employees will continue to stay on. McDonald’s CEO Chris Kempczinski said in a conference call with analysts that he understood the impact of regional wars on communities and acknowledged that the boycott had an impact on performance.
The company’s sales performance in the fourth quarter was poor, especially in the Middle East and some Muslim countries. Shares fell nearly 2% after hours.
(Source: AFP Image source: Unsplash)
