After 32 years, McDonald’s plans to sell its Russia business

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16.05.2022, 16:40

McDonald's fast food corporation said it will sell its Russian business after more than three decades in the country, TASS reported.

After 32 years, McDonald’s plans to sell its Russia business

YEREVAN, May 16, /ARKA/. McDonald's fast food corporation said it will sell its Russian business after more than three decades in the country, TASS reported.

McDonald’s, which employs 62,000 people in Russia, said in March that it would temporarily close its operations there because of the Russian-Ukrainian conflict, as did several other chains.

McDonald’s plans to sell its business that comprises 850 restaurants, some run by franchisees, to a local buyer. It will “de-arch” those restaurants, meaning they will no longer use the McDonald’s name, logo or branding.

First McDonald’s restaurant opened in Moscow in 1990. McDonald’s, which has 39,000 restaurants in over 100 countries, has since invested billions of dollars across its supply chain and restaurants in Russia.

Earlier, Moscow Mayor Sergey Sobyanin said that domestic catering chains could replace about 250 McDonald’s restaurants closed in Moscow in about a year. According to him, 99% of food products in Moscow restaurants are from Russian suppliers.

A source at McDonald's told TASS that the restaurants will open in Russia under the new brand in mid-June, and the jobs, most suppliers and the menu will be retained.-0-

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