Yangs get 20 more years to operate McDonald’s in PH

AP FILE PHOTO

McDonald’s Philippines has renewed its franchise to operate in the country for another 20 years as it seeks to expand its network to 800 stores this year.

Under the new terms, McDonald’s Philippines, through master franchise holder Golden Arches Development Corp. (GADC), can operate and subfranchise the American fast-food chain until 2045.

Under the leadership of patriarch George Yang, the Yang family first held the master franchise in 1981, when the first McDonald’s store was opened along Morayta Street in Manila. By 1986, Yang introduced Chicken McDo and McSpaghetti to the predominantly Western menu, mainly to cater to “the unique Filipino palate.”

“We see our growth coming from areas outside of NCR (National Capital Region) that have been rapidly developing,” GADC president and CEO Kenneth Yang said during a media event.

“This 2025, we aim to break our record new store openings,” he added.

Last year, McDonald’s opened 65 new stores across the country, expanding its store network to 792 branches.

The younger Yang likewise said they were on track to open their 800th store this year, creating jobs for Filipinos. Each branch provides jobs for up to 100 people, he said.

GADC is a 100-percent Filipino-owned company founded and chaired by George Yang.

The latter currently holds 51 percent in GADC, while Alliance Global Group Inc., the conglomerate led by billionaire Andrew Tan, owns the remaining 49 percent.

In the January to September 2024 period, GADC recorded P34.6 billion in sales, up by 12 percent on gains from its store expansion program.

The company has yet to disclose its full-year 2024 earnings.—Meg J. Adonis