Yesterday, McDonald's Global and Carlyle Group announced that McDonald's Global has agreed to acquire a minority stake in Carlyle's strategic partnerships in mainland China, Hong Kong, and Macau.
The CITIC consortium, mainly composed of CITIC Capital, will maintain a controlling position. After the transaction is completed, CITIC consortium will continue to hold 52% of the shares, and McDonald's Global, as a minority shareholder, will increase its shareholding ratio from 20% to 48%.
Chris Kempczinski, Global President and CEO of McDonald's, stated: Our strategic cooperation with CITIC and Carlyle has been very successful, and the McDonald's brand is rapidly developing in the Chinese market. China is now the second largest market for McDonald's globally, with over 5500 restaurants, double the number of restaurants compared to 2017. We believe that this is the best time to simplify the equity structure, and China's growing consumer demand brings us huge opportunities. China is McDonald's fastest-growing market globally, and its long-term development is The potential will continue to benefit us
Since September 2019, McDonald's China has achieved over 30% growth in system sales. Looking ahead, both shareholders will continue to work together to promote the "Fire Development Plan" in the Chinese market, further expand the restaurant network, and better serve and connect customers.
Yang Xiangdong, Chairman of Carlyle Asia Pacific, said, "Thank you to CITIC Capital and McDonald's Global for their close cooperation with us. We have jointly promoted the rapid development of McDonald's China business and the innovation of digital marketing and operation capabilities. McDonald's China's business continues to perform excellently, and we wish McDonald's China more success in the future development stage
Chairman and CEO of CITIC Capital As the controlling shareholder of McDonald's China, we are pleased to see the recognition of our long-term partnership and further investment in the Chinese market from McDonald's headquarters. McDonald's China is moving towards the goal of breaking through 10000 restaurants by 2028, and we are confident and will continue to do our best to serve Chinese consumers with McDonald's classic delicacies
The above transaction is subject to approval by relevant regulatory authorities and is expected to be completed in the first quarter of 2024.
Guangzhou Daily · New Flower City Reporter: Zeng Fanying