Israeli franchise holders of Burger Ranch and McDonald’s have beaten off other bidders to acquire Burger King Israel’s franchise with a joint cash offer of US$7m.
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A report in Maariv notes that at the beginning of next month, a Burger King Israel Trustee has to submit his recommendation regarding the best offer. “What makes the joint offer submitted by the country’s two leading fastfood companies is the cash payment, whereas other offers that come close to US$7m stipulate that payments be made from future profits.”
The motive behind the offer from McDonald’s and Burger Ranch is to “erase” the Burger Ranch brand from the local scene, which might prompt the Antitrust Commissioner and the Trustee to oppose the bid.
Furthermore, on 9 April the Tel Aviv District Court extended the period of “no legal action” to be taken against Burger King until 24 June.
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By GlobalData
