COSTA RICA/USA: McDonald's buyback in Costa Rica
McDonald's corporation has taken control of the 23 restaurants operating in Costa Rica under its brand name. During the next six months the corporation will consider candidates for taking over the restaurants. If all goes according to schedule, some or all of the restaurants will have new owners within a year. Edgardo Navarro, head of McDonald's operations for Central America indicated that the move was made in order to increase the pace of expansion in Central America. The corporate takeover of Costa Rican McDonald's restaurants became effective on 1 September, 2000. It marked the temporary end of 30 years of restaurant ownership by Costa Rican investors. The buyout came as the result of about six months of negotiation culminating in the formal purchase on 31 August. During the first stage of the reorganisation, the corporation will invest US$3m, primarily on remodelling projects. Starting in the year 2001, three new restaurants will be opened.For years, McDonald's of Costa Rica, officially registered as
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- US food next wave on display at Winter Fancy Food
- How General Mills plans to grow - CAGNY
- Comment: Meal kits in US - don't believe the hype
- Wessanen eyes growth in "resurgent" organic market
- Does Kraft Heinz want to swallow Unilever whole?
- Unilever launches operational review
- Kerry operating earnings strengthen on slow sales
- Glanbia focuses on nutrition with Irish dairy spin
- Kerry's Scanlon to replace McCarthy as CEO
- Mondelez launches savoury snacks brand Vea