- February 3, 2020 / 4 min readBoth McDonald’s India and Agrawal declined to comment on the financials of the deal, or details of terms of operation.
American burger giant McDonald’s has chosen entrepreneur Sanjeev Agrawal, promoter of Delhi-based diversified MM Agrawal Group, as developmental licensee for its operations in north and east India.
This happened after nine months when the burger chain had brought out former partner Vikram Bakshi’s stake in their joint venture.
“We have aggressive plans for McDonald’s North and East and our key focus will be to turn around the business,” shared Agrawal who is looking at scale investments to re-image all the outlets.
Also, Moon Beverages is Coca-Cola India’s largest franchisee bottler which is also a subsidiary of MM Agrawal Group.
“Agrawal has a strong understanding of the McDonald’s brand, insights into the local market, and a proven track record of driving innovation in the food and beverage and hospitality industries,” shared a McDonald’s spokesperson in a media statement.
Both McDonald’s India and Agrawal declined to comment on the financials of the deal, or details of terms of operation.
McDonald’s, with its captive mass appeal and aggressive entry-level pricing, is one of the largest players in the fast food service space in the country. After a protracted legal battle which lasted nearly six years, McDonald’s India and its affiliate McDonald’s Global Markets LLC had bought out Bakshi’s stake in their joint venture Connaught Plaza Restaurants Ltd (CPRL) in May last year in an out-of-court settlement. Since then, McDonald’s India took over the management of CPRL and has been running its 165 stores on its own.
In December last year, Agrawal’s Moon Beverages had bought out Coca-Cola-owned bottling partner Hindustan Coca-Cola Beverages’ (HCCB’s) bottling territories in Delhi-NCR and Western UP. McDonalds’s and Coca-Cola also have a long-standing exclusive global beverage partnership.
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