McDonald’s Corp., headquartered in Chicago, Illinois, has entered into a multi-unit franchise agreement with Golden Arches Development Corp. (GADC), its Chairman & Founder George T. Yang, and President & CEO Kenneth S. Yang for a new 20-year franchise term in the Philippines until 2045.
During the franchise renewal event at McDonald’s Quezon Avenue Ligaya branch on April 4, Mr. Kenneth S. Yang of GADC reminisced about the company’s achievements since being granted franchising rights in 1981, and he also shared some of the company’s aims in the foreseeable future.
The American fast-food giant achieved significant growth in the country last year adding 65 new restaurants, built in collaboration with its sub-franchisees. Mr. Yang revealed that McDonald’s Philippines ended last year with a total of 792 stores nationwide and is poised to open its 800th store soon. This continued expansion reflects McDonald’s commitment to making its presence felt across more communities in the Philippines.
“We are very grateful for the trust and confidence that McDonald’s Corp. has in us and our market as one of the top McDonald’s markets in the world,” Mr. Yang said during his speech.
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