McDonald's China franchise bid confirmed
McDonald's, in an effort to reorganize business in China by way of franchising, has recieved an official joint bid from Sanpower and the Beijing Tourism Group.
McDonald's in China plans to open another 1,250 restaurants on top of the 2,200 it already has, and seeks franchising in order to expand the brand.
The owner of KFC and Pizza Hut, Yum Brands, is also restructuring its business in China, and is McDonalds's' direct competitor. Both companies have had to fight off cheaper rivals and food safety scares.
Eventually, McDonald's hopes to franchise 95 percent of its outlets globally.
According to the BBC, Sanpower spokesman Zou Yan said in an email: "In recent years, we are building more offline commercial stores, aiming to provide better shopping experience for consumers. McDonald's could provide new brand elements for us."
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