McDonald’s restaurants in Russia have been renamed “Vkusno i tochka” (“Delicious. Full Stop”). The new owner announced ahead of its grand re-opening.
The iconic ‘Golden Arches’ are now being replaced with a new logo. The very first McDonald’s restaurant opened in Moscow’s Pushkin Square in January 1990.
The American fast-food giant McDonald’s announced on May 16 that it would exit Russia. The decision came in the wake of Moscow’s invasion of Ukraine.
A Russian businessman Alexander Govor, who had been a licensee of the chain, bought the 850-restaurant operation.
He stated:
I am very proud of the honour that developing this enterprise has given me, Govor said on Sunday. “I am ambitious and I don’t only plan to open the 850 restaurants but to develop new ones.
What are the sale conditions after replacing McDonald’s?
Under the sale conditions, Govor agreed to retain employees for at least two years and fund exiting liabilities to suppliers, landlords, and utilities, McDonald’s said.
The cost of the transaction was not revealed. But, in announcing its exit, McDonald’s stated that it planned to take a one-time charge of $1.2 billion to $1.4 billion to write off the investment. Also, McDonald’s employed 62,000 workers in this country.
Govor is a licensee since 2015. He has operated around 25 restaurants in Siberia. Moreover, he is a co-founder of Neftekhimservice, a refining company. He is also a board member of a firm that owns the Park Inn hotel and private clinics in Siberia.
