McDonald's Seeks Strategic Partners In China, Korea And Hong Kong
McDonald's Corp. (MCD) announced that it plans to identify strategic partners who will add value and unlock growth potential in key markets throughout Asia to advance the company's future growth plans. The company intends to add more than 1,500 restaurants in China, Hong Kong and Korea over the next five years.
The company is seeking partners who would enhance its competitive advantages and resources to enable localized decisions on growth initiatives and increase capital resources to further invest in restaurant expansion and modernization.
China, Hong Kong and Korea collectively represent more than 2,800 restaurant locations, the majority of which are currently company-owned.
As part of a way to advance growth in Asia, the company also recently announced its intent to identify strategic partners in Taiwan and Japan. Last year, McDonald's committed to strategically evaluate ownership structures in markets around the world with the overall goal of reducing the number of restaurants that the company owns and operates.
The result of this will be to place more restaurants under local ownership, in the hands of local franchisees, with a long-term goal of being 95% franchised. The identification of strategic partners in Asia is consistent with this strategy. (dpa)
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