McDonald’s, with corporate headquarters just outside Chicago in Oak Brook, just a short distance from Oakbrook Terrace, recently sold a controlling stake of its business in China to a group of investors headed up by Citric, a conglomerate owned by the Chinese government.
This transaction was undertaken in an effort by McDonald’s to ensure that it offers menu items that will keep up with the changing tastes of its customers. In addition, Steve Easterbook, CEO of the company, commented that he is also restructuring the company so that local managers will have more power in terms of making decisions regarding the menu in response to customer requests in Asia.
The terms of the transaction state that Citic Ltd. will purchase 52 percent of the business. The Carlyle Group, a private equity firm based in Washington will own 28 percent while McDonald’s will own 20 percent of the business. The deal is expected to be completed by the middle of the year.
Over the next five years, McDonald’s and its partners plan to add 1,500 restaurants in Hong Kong and Chinas to respond the demand from the growing middle class which has increasing funds to spend on eating out.
McDonald’s, like many corporates, uses marketing services to promote its brand and demonstrate its ability to meet the needs of its customers.
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