McDonald's is seeking new partners to advance its growth in Asia
The fast food chain announced that it intends 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 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.
“Asia represents a significant area of opportunity for McDonald’s to blend our global quality standards with local insights and expertise from partners who share our vision and values,” said Steve Easterbrook, McDonald’s President and CEO.
“This will allow McDonald’s to accelerate our growth and scale faster across diverse markets placing us closer to our customers and the communities we serve. We’re in the midst of transforming our business and taking a strategic and thoughtful approach to enhance our ability to grow around the world. These actions build on our turnaround efforts and will advance local ownership, enable faster decision-making and achieve restaurant growth.”
According to McDonald's, China, Hong Kong and Korea collectively represent more than 2,800 restaurant locations, the majority of which are currently company-owned. The company said that it plans to add more than 1,500 restaurants in China, Hong Kong and Korea over the next five years.
As part of a way to advance growth in Asia, the company said that it wishes to identify strategic partners in Taiwan and Japan.
