McDonald's to Buy Back Israeli Franchises Amid Tensions in Middle East

Published: 05 April 2024 at 01:45

McDonald's is buying back its franchises in Israel from Alonyal Limited, the CEO and owner, after over 30 years of operation, encompassing 225 restaurants and 5,000 employees. The move follows a decline in sales due to tensions in the Middle East. The agreement ensures retaining employees and operations on equivalent terms. McDonald's president reaffirmed commitment to the Israeli market. The decision came after a boycott linked to the Israel-Hamas war, with Muslim-majority countries distancing themselves from McDonald's. The conflict significantly impacted the company's performance, especially in the Middle East and Malaysia.

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