Maltese group to operate McDonald’s in Romania

Premier Capital has entered into a share purchase agreement with McDonald’s Restaurant Operations Inc and acquired all the shares in McDonald’s System of Romania Inc.

McDonald’s System of Romania Inc. owns and operates 66 McDonald’s-branded restaurants in 21 cities in Romania, employing around 4,000 people. The addition of these restaurants to the portfolio of 64 restuarants already owned and operated by the Company and its subsidiaries across Malta, Estonia, Latvia, Lithuania and Greece constitutes a significantly increased capacity in the business of the Company.

The McDonald’s franchise has been present in Romania since 1995 and is estimated to serve more than 65 million customers every year – approximately 180,000 per day.

The consideration due in terms of the transaction consists of an aggregate amount of $65,331,000 paid in its majority upon execution of the share purchase agreement, with the remaining balance to be paid in part within two months and in part by no later than 22 January 2017 in accordance with the terms of said agreement.

Carmelo Hili, Daniel Boaje, Victor Tedesco and Dorian Desira, all directors of the Group Compnay, will sit on the board of directors of McD Romania.

Premier Capital plc is the developmental licencee for McDonald’s in Estonia, Greece, Latvia, Lithuania, Malta and Romania. Premier Capital plc has invested more than €65 million in its McDonald’s operation since 2008.