McDonald's says it's acquiring Alonyal, which owns 225 McDonald's restaurants in Israel that have been hit by calls for a boycott over the war with Hamas in Gaza.
McDonald's Corporation says it will acquire Alonyal, which owns 225 McDonald's restaurants in Israel that have been hit by calls for a boycott over the war with Hamas in Gaza. Terms of the transaction weren't disclosed. McDonald's said in a statement the deal was subject to conditions it didn't identify. Alonyal has operated McDonald's restaurants in Israel for more than 30 years. Their 5,000 employees will keep their jobs after the sale, McDonald's said.
He said the impact of the boycott was 'meaningful,' without elaborating.McDonald's fourth quarter sales disappointed analysts. In franchised restaurants outside the U.S., comparable sales fell 0.7 percent. 'Obviously the place that we're seeing the most pronounced impact is in the Middle East. We are seeing some impact in other Muslim countries like Malaysia, Indonesia,' said Kempczinski.
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