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更新时间:2017-1-10 18:20:47 来源:纽约时报中文网 作者:佚名

McDonald’s China Operations to Be Sold to Locally Led Consortium

HONG KONG — McDonald’s said on Monday that it would sell its businesses in mainland China and Hong Kong for $2.08 billion to Citic, a state-owned conglomerate, and the Carlyle Group, a private equity firm.

香港——麦当劳(McDonald’s)周日表示,将把公司在中国大陆和香港的业务以20.8亿美元的价格出售给国有企业集团中信和私募股权公司凯雷集团(Carlyle Group)。

The deal gives Citic and Carlyle franchise rights for 20 years. Citic and its investment arm, Citic Capital, will have a controlling stake of 52 percent, while Carlyle will take 28 percent. McDonald’s will retain the remaining fifth of the company.


“China and Hong Kong represent an enormous growth opportunity for McDonald’s,” Steve Easterbrook, McDonald’s chief executive, said in a news release. “This new partnership will combine one of the world’s most powerful brands and our unparalleled quality standards with partners who have an unmatched understanding of the local markets.”

“中国大陆和香港蕴藏着巨大商机,”麦当劳首席执行官史蒂夫·伊斯特布鲁克(Steve Easterbrook)在一份新闻稿中表示。“麦当劳是全球最知名的品牌之一,也是行业质量标杆。我们的合作伙伴对中国市场有着全面的了解,各方携手能进一步提升竞争力。”

Mr. Easterbrook, who took over in 2015 and set about turning the company around, has seen it regain its financial footing recently, although growth has slowed.


The turnaround plan announced involved making 95 percent of its restaurants franchises, including more than 1,750 in China and Hong Kong. McDonald’s operates and franchises more than 2,400 restaurants in mainland China and more than 240 in Hong Kong.


McDonald’s opted for a franchise deal to save on investing and modernizing stores itself, according to Ben Cavender, a senior analyst at China Market Research, a consultancy based in Shanghai.

上海的咨询公司中国市场研究集团(China Market Research)高级分析师本·卡文德尔(Ben Cavender)称,麦当劳选择以一项特许经营权交易来省去自行投资和更新门店的麻烦。

“At the end of the day they can make more money,” Mr. Cavender said before the announcement. “They can be more profitable if they are asset light and make money off franchise fees and leave the heavy lifting to somebody else.”


The consortium said it planned to focus on opening new restaurants in third- and fourth-tier cities. For Citic, the investment was seen as a way to tap into rising disposable incomes in China. Chang Zhenming, the chairman of Citic, said the deal was a “strategic opportunity for Citic to invest in the expanding Chinese consumer sector.”


If McDonald’s moved into smaller cities, there could be opportunities for growth, said Joel Silverstein, president of the consultancy East West Hospitality Group.

咨询公司东西友好集团(East West Hospitality Group)总裁乔尔·西尔弗斯坦(Joel Silverstein)说,如果麦当劳向更小的城市进军,可能会有巨大的增长机会。

“McDonald’s definitely has much more developmental potential ahead of it compared to Yum,” Mr. Silverstein said ahead of the announcement, referring to the fast food group that owns KFC and Pizza Hut. “KFC has gone into Tier 3 or 4 cities, where McDonald’s hasn’t expanded nearly to that extent yet.”

“与百盛(Yum)相比,麦当劳显然有着更大的发展潜力,”西尔弗斯坦在消息宣布前表示。百盛是拥有肯德基(KFC)和必胜客(Pizza Hut)的快餐集团。“肯德基已经进入了三四线城市,而麦当劳远没扩张到那种程度。”

In the 1990s, Chinese consumers flocked to Western fast-food chains, drawn to them by their clean bathrooms and air-conditioning — a novelty in China at that time. But since then, restaurants like McDonald’s and KFC have struggled against increasing competition from a boom in quick-service Chinese restaurant chains and a shift toward healthier eating.


Yum split off its Chinese operations into a separate company in 2015, after falling sales and food safety issues. It has struggled to keep up with changing customer tastes and competition from both local and international players.


Still, there was concern about how McDonald’s could expand and retain customers.


Chinese people are not “great burger eaters to the extent that they like fast food chicken,” Mr. Cavender at China Market Research said.