McDonald’s buys all of its Israeli franchise restaurants amid damage from Middle East turmoil

London (CCN) - McDonald’s will buy every one of its 225 franchise restaurants in Israel, it announced Thursday, just weeks after saying that the Israel-Hamas war was hurting its business.

The fast food giant said it had struck an agreement with Israeli franchise Alonyal to buy the firm’s McDonald’s (MCD) franchise restaurants in the country.

Omri Padan, CEO and owner of Alonyal, said in a statement: “For more than 30 years, Alonyal Limited has been proud to bring the Golden Arches to Israel and serve our communities.” Alonyal employs more than 5,000 people across its McDonald’s restaurants in the country.

https://www.cnn.com/2024/04/04/business/mcdonalds-buys-israeli-franchise/index.html