McDonald's selects licensee for Malaysia, Singapore
Dec. 2, 2016
by Erica Shaffer
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Lionhorn is the developmental licensee for 100 restaurants in Saudi Arabia.
OAK BROOK, Ill. – McDonald’s Corp. named Lionhorn Pte. Ltd. as the developmental licensee for its Malaysia and Singapore markets. Under the developmental licensee structure, McDonald’s transferred its ownership interest in McDonald’s Malaysia and Singapore and granted a license to Lionhorn to run McDonald’s restaurants in those markets. Financial terms of the transaction were not disclosed.
Lionhorn will provide the capital needed to support and grow and will pay an initial franchise fee and royalties to McDonald’s Corp. Lionhorn assumed ownership of McDonald’s business in Malaysia and Singapore on Dec. 1. The transaction includes 390 restaurants; more than 80 percent of which were company owned.
“This transaction marks another milestone in our company’s ongoing efforts to identify strategic partners who share our values and vision to accelerate our growth and scale across diverse markets, drive innovation and place us closer to our customers and the communities we serve,” McDonald's President and CEO Steve Easterbrook said in a statement.
Lionhorn is led by Sheik Fahd and Abdulrahman Alireza, who have 20 years of experience as the developmental licensee for nearly 100 McDonald’s restaurants in western and southern Saudi Arabia. Local operating partners Azmir Jaafar and Kenneth Chan, both of whom previously held senior leadership positions at McDonald’s, will lead the day-to-day management of the Malaysia and Singapore markets, respectively.