Maltese group pays EUR 60 mln for McDonald's franchise in Romania

The Maltese group Premier Capital, which is a division of Hili Ventures, has paid USD 65.33 million (EUR 60 million) to buy the McDonald's franchise in Romania, according to Premier Capital. Hili Ventures also operates in Romania an Apple store under the iCentre brand in a joint venture with the Maltese group VJ Salomone. The gross assets of McDonald's Romania amounted to USD 69.52 million at the end of 2015, and the profit reached USD 11 million. Premier Capital has taken over all the 67 McDonald’s restaurants and the 19 McCafe coffee shops in Romania and will provide the capital needed for the network’s development. As for the management, the current McDonald's Romania CEO Daniel Boaje will continue to lead the company. McDonald’s has invested over EUR 160 million in its local restaurants, in the past 20 years and serves over 65 million customers each year (over 180,000 clients per day). editor@romania-insider.com