Russian McDonald's buyer to rebrand restaurants

May 20, 2022 10:00 am

Under the deal McDonald's will retain its trademark Russia, while restaurants like this one in Moscow will be stripped of their menu, logo and other branding.

McDonald’s has found a local buyer for its Russian business, after the war in Ukraine pushed it to quit the country.

Alexander Govor, who currently operates 25 McDonald’s restaurants in Siberia, will take on the firm’s restaurants and staff, operating them under a new brand, the fast food giant said.

It did not disclose the sale price, but has warned investors it would take a more than $1 billion hit from the exit.

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McDonald’s had operated in Russia for more than 30 years.

The opening of its first restaurant in Moscow in 1990 came to symbolise a thaw in Cold War tensions.