The world’s largest fast food chain loosened its grip on the Chinese market in a $2 billion deal to sell absolute control over its restaurants. The move, announced Jan. 9, will effectively unleash its 2,640 Chinese and Hong Kong locations into a franchise model, giving more autonomy to local franchisees to run individual restaurants while reducing risk for the larger corporation. In relinquishing control, the fast food behemoth is hoping menu innovation, technological upgrades, and delivery will drive growth and justify the opening of 1,500 new locations by 2022. The deal, good for two decades, gives the franchise rights to state-owned conglomerate, Citic, and the Carlyle Group, a private equity firm. Citic will have a 52% controlling stake, Carlyle will take 28%, and McDonald’s will maintain a 20% ...
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Brew City Black & Tan Onion Rings
The ultimate snack for craft beer fans. Thick cut Brew City Black and Tan onion...