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Stores

Staff Reporter

, China

Published:

8 months ago

Photo by Declan Sun from Unsplash

McDonald’s to buy Carlyle share in McDonald's China

This will increase its shares in McDonald's China to 48%.

McDonald’s Corporation will acquire the minority stake of global investment firm Carlyle in the strategic partnership of McDonald’s operations in mainland China, Hong Kong, and Macau, increasing its share from 20% to 48%.

The CITIC Consortium, through its affiliate CITIC Capital, will remain a major stakeholder with 52% ownership.

“Our strategic partnership with CITIC and Carlyle has been extremely successful in growing McDonald’s presence in the region since it began. China is now our second largest market; we've doubled our restaurants to more than 5,500 since 2017,” Chris Kempczinski, President and CEO of McDonald’s, said.

ALSO READ: Baijiu sales growth in China propelled by banquet demand

Currently, McDonald’s has achieved a systemwide sales growth of over 30% in the sector year-to-date since September 2019. With the acquisition, both partners will accomplish the “Accelerating the Arches” growth strategy for the development of new restaurants and engagement with loyal customers.

The acquisition is undergoing regulatory approval and is expected to be finalised by Q1 2024.

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