McDonald's reiterated its commitment to the Israeli market and ensuring favorable conditions for employees and customers.
McDonald's has announced its intention to buy all 225 of its franchised restaurants in Israel amid the business disruption caused by the conflict between Israel and Hamas.
Agreement on restaurant acquisition
According to a statement by McDonald's, the company has reached an agreement to purchase its restaurants from the Israeli franchise company Alonyal. Alonyal employs over 5,000 staff working across McDonald's restaurants nationwide, as reported by the TV channel.Ensuring future market conditions
McDonald's reiterated its commitment to the Israeli market and ensuring favorable conditions for employees and customers in the future, as cited by CNN.Earlier, the British newspaper The Independent noted a slowdown in McDonald's revenue growth in Muslim countries due to support from its Israeli division for the Israel Defense Forces. McDonald's CEO Chris Kempczinski expressed concern about the impact of events on brands like McDonald's.
Situation in the Middle East
The situation in the Middle East escalated after the conflict between Israel and Hamas in October of last year. Hamas militants breached from the Gaza Strip into Israeli territory, exacerbating tensions in the region.
5 APRIL 2024, Israel
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McDonald's to acquire franchised stores in Israel