Reportedly, McDonald’s Corporation (MCD) Russia aims to reopen all restaurants in two months, its new owner Alexander Govor informed further adding his aim to expand to 1,000 locations from the 850 he took over last month. In May, McDonald’s Corp sold the restaurants to Govor, one of its licensees in Russia, who will rebrand them under a new name. McDonald’s temporarily closed its restaurants in Russia in March after Russia sent troops to Ukraine.
Govor, a leader in the Russian coal and oil sectors, did not comment as to how much he paid but informed us that there were other bidders who wanted to take over the entire chain. Govor said the process to choose a new brand name was ongoing.
McDonald’s Corporation (MCD) is the leading global foodservice retailer with nearly 37,000 locations in over 100 countries. The Corporation operates and franchises McDonald’s restaurants in the US and across the globe with over 90% of its restaurants owned and operated by local, independent businessmen and women. To learn more about McDonald’s Corporation (MCD) and to track its progress please visit the Vista Partners McDonald’s Coverage Page.
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