The deal includes 400 restaurants and gives Hubert Lee control of the business in that market.
McDonald’s entered into a multi-unit licensee agreement for the Taiwan market with De Yu Co. Ltd. (De Yu), an investment consortium led by Lee who holds a 70 percent ownership stake in the group.
“We look forward to partnering with Mr. Lee and his team to take our brand to the next phase in Taiwan,” said Simone Hoyle, head of McDonald’s Asia Foundational Markets. “Building on our existing brand strengths and high standards, I am confident that together, we will create many exciting opportunities through modernizing our restaurants, enhancing digital consumer engagement, and offering customers even more personalized service and a menu tailored to the local culture.”
Lee and De Yu assumed ownership of the McDonald’s business in Taiwan on June 1, which included approximately 400 restaurants, more than 90 percent of which were previously corporately owned. Financial terms of the transaction were not disclosed.
“I am excited about joining a leading and world-class organization such as McDonald’s and working together with the team across Taiwan to make customer experience even more unique and innovative,” said Hubert Lee. “I share the McDonald’s vision to delight customers with the taste and quality of our food and offer the highest level of service and convenience.”