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McDonald’s has decided to buy all its branches in Israel amid the chaos of the Middle East war.
According to CNN, the fast food giant has entered into an agreement to remove hundreds of stores from the area as the conflict between Israel and Hamas continues.
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McDonald’s is buying them all back
The restaurant chain reportedly announced on Thursday that it will buy 225 stores in Israel. The majority of Mickey D’s stores are operated by local franchisees.
The billion-dollar brand had previously said that the war between Israel and Hamas had caused sales to decline. CEO Chris Kempczinski said McDonald’s was undergoing a process “Meaningful business impact.”
The company has reportedly reached an agreement with Israeli franchise Alonyal, run by CEO Omri Badan. McDonald’s will buy every brick and mortar in the country. The transfer of ownership will be completed in the coming months. Details of the deal were not announced.
The CEO stated that they were “Proud to bring the Golden Arches to Israel and serve our communities.”
Israeli restaurants employ more than 5,000 people. The brand plans to retain all current employees. This was stated by McDonald’s “It remains committed to the Israeli market and to ensuring a positive experience for employees and customers in the market going forward.”
Impact of war
After Hamas militants killed nearly 1,200 Israeli civilians and soldiers as well as kidnapped 200 others on October 7, Alonial began donating free meals to the Israeli military. In addition, they offered discounts on food items. Other franchise groups in Kuwait and Pakistan did not want to take any parts and quickly distanced themselves from Alonial.
In October 2023, a McDonald’s spokesperson told ABC News that their goal is to make sure every employee is safe. In addition, the company donated a total of $1 million to the World Food Program and the Red Cross – $500,000 each.
In addition, local residents began boycotting the fast food restaurant. However, Kempczinski says the protests have only moderately damaged the brand.
McDonald’s is not the only American company to face a boycott over its alleged support of Israel. Starbucks has also been targeted by former patrons, according to ABC News.
Related: The truce between Israel and Hamas will reportedly be extended for another two days
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