The Clap
McDonald’s will sell its Russia business to one of its local franchisees, who previously helped McDonald’s expand into Siberia with 25 restaurants.
Backstory
McDonald’s had temporarily suspended its Russia operations last March amid the Russia-Ukraine war, but recently announced its complete exit from Russia.
The deets
The buyer will have to rebrand the nearly 714 restaurants that McDonald’s owns in Russia.
Financial terms of the deal were not disclosed.
Why this matters
McDonald’s continued to pay its Russia workers, spending about $55M a month on rent & wages for its 62,000 Russian employees.
McDonald’s Russian business made up 9% of total global revenue in 2021.
