Weekly Global News Wrap Up: McDonald's BigMac turns 50; South Africa's booming fast food delivery sector; Jamba Juice announces merger with Focus Brands Inc.
Here is a summary of the most interesting QSR news stories of the week from around the world.
McDonald’s iconic Big Mac is celebrating its 50th anniversary, and the global fast food giant is launching a new currency to celebrate.
Time reports that the new commemorative “MacCoin” can be used to buy Big Macs. The brand is distributing more than 6.2 million MacCoins to customers who purchase a Big Mac at a participating McDonald’s, including 14,000 locations around the U.S. and many more worldwide. Read more here.
In China, the Big Mac has become the fast food company's most popular beef burger and has been interpreted to have different symbolic meanings in the country, as reported by China Daily. The latest data from the company showed that over 50 million Big Macs were sold in China last year, and Beijing boasts the highest sales in the country. Read more here.
The Daily Mail, meanwhile, explored the history of the iconic burger and chronicled the determination of a World War II veteran that catapulted the sandwich into culinary history. Read the full story here.
Business Daily Africa reported that Hong-Kong based restaurant chain firm Toridoll Holdings, the majority shareholder of local fast foods joint Teriyaki Japan, is offloading its stake to its Kenyan partner. Toridoll Holding’s exit from the local market comes in the wake of heated competition from other fast-food joints that have set up shop in Kenya over the past five years. Teriyaki Japan is mainly known for its grilled chicken and noodles. Read more here.
South Africa’s fast food delivery services have also boomed the past year, with home-grown delivery service Mr D Food alone reporting growth of 210% in the number of orders, according to a report by Business Insider South Africa. Read more here.
Focus Brands Inc. (FBI) and Jamba, Inc. announced in a statement (via BusinessWire) that they have entered into a definitive merger agreement under which FBI will acquire Jamba for $13.00 per share in cash, in a transaction valued at approximately $200 million.
"Benefiting from an extremely loyal customer base and strong franchise operators, Jamba Juice is one of the category leaders in the fast growing smoothie and juice category,” said Steve DeSutter, CEO of Focus Brands Inc. “We are excited to welcome Jamba Juice with such an iconic heritage into our family of well-known and highly loved ’fan favorite’ brands.” Read more here.
(Photo credit: McDonald's)
