A Russian investor is about to buy the network of 67 stores McDonald’s in Romania, in a deal estimated to EUR 50 million. The transaction was announced firstly by economica.net and market sources told the adevarulfinanciar.ro that the business is likely to be 90% complete.
The move by the American multinational company, which had revenues of over USD 27 billion last year from over 35,000 restaurants worldwide, comes as McDonald’s plans to sell businesses in countries where it has fewer than 100 units.
As McDonald’s revenues in Romania reached EUR 120 million last year, the US company would have cashed about EUR 25 million in 2014.
About 70% of McDonald’s restaurants worldwide are open on franchise.
For now the Russian investor’s identity is not known, but it is well known that in Russia there are many investors with significant financial resources that want to strategically extend in the region.
Asked by economica.net if this information is true, Daniel Boaje, McDonald’s Romania General Manager said: “This situation is being prepared since last summer, now it’s media speculation. I have absolutely nothing to comment further.”
McDonald’s Corporation owns 67 restaurants in 21 cities in Romania, half of them are drive-through.