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Tuesday, February 22, 2011

McDonald’s Corp exit from Hardcastle Restaurants Pvt Ltd

FEB 21 2011
M&A

McDonald’s Corp exit from Hardcastle Restaurants Pvt Ltd (HRPL), one of its two equal joint ventures that run Big Mac outlets in India, and is converting it into a franchisee operation. McDonald’s Corp is selling its 50% stake to Indian partner BL Jatia family for an undisclosed amount.
McDonald's started its operation in 1996 by entering into 50-50 JV with HRPL and Connaught Plaza Restaurants Pvt Ltd.
Hardcastle Restaurants operates the fast-food chain in west and south India.
Amit Jatia HRPL Vice-Chairman said it gives us the freedom to grow aggressively and take quick decisions.

Posted by Baigalla madhan at 12:16 AM

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