Mcdonald’s India secures Rs 70 crore funding from its US parent

This move comes a month after the US-based Quick Service Restaurant (QSR) chain acquired full ownership of Connaught Plaza Restaurants Limited (CPRL) from its long-estranged business partner Vikram Bakshi.
  • Vaishnavi Gupta Features Writer
Mcdonald’s

Mcdonald’s India private Limited (MIPL) has raised Rs 70 crores from its parent company McDonald’s International Branch Holdings LLC.

This move comes a month after the US-based Quick Service Restaurant (QSR) chain acquired full ownership of Connaught Plaza Restaurants Limited (CPRL) from its long-estranged business partner Vikram Bakshi.

CPRL runs McDonald’s restaurants in North and East India. It is now wholly owned by MIPL and its affiliate McDonald’s Global Markets LLC or MGM.

Bakshi ended his over-two-decade-old association with CPRL and McDonald’s with the transfer of ownership and management. The association between Bakshi and McDonald’s had started in 1995.

Currently, McDonald’s has two business entities in India. While the first one is CPRL, the other one is Amit Jatia’s Hardcastle Restaurants that runs McDonald’s business in southern and western India.

In order to re-calibrate its processes after taking over the reins from Vikram Bakshi, McDonald’s had temporarily shut down all of CPRL’s outlets in the northern and eastern regions of the country.

The burger giant has reopened a sizable number of those restaurants. It will continue to re-launch restaurants over the coming days and weeks in North and East India.

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