Businessmen George and Kenneth Yang’s Golden Arches Development Corp. obtained a new 20-year franchise agreement to operate McDonald’s in the Philippines.
The multi-year agreement will cover the period 2025 to 2045, according to GADC president and chief executive Kenneth Yang in a press briefing Friday.
Under the license agreement, Chicago-based McDonald’s Corp. granted GADC the authority to own, develop and operate restaurants and engage in the sub-franchising of restaurants under the McDonald’s.
Yang said with the new term license secured, the company is committed to expanding McDonald’s in the country, helping generate greater economic and employment opportunities and supporting communities.
“We see our growth coming from areas outside of NCR that have rapidly been developing. We’re excited to open more stores and bring McDonald’s closer to more Filipinos,” said Yang.
GACD chairman George Yang has held the master franchise since the opening of the first McDonald’s store in 1981.
McDonald’s Philippines store network spans all the regions in the country, with the majority of its stores located in NCR and Luzon. Close to 70 percent of the stores are free-standing with drive-thru services.
McDonald’s opened 65 new stores in 2024 to end the year with a network of 792.
Yang said McDonald’s is one the country’s biggest youth employers, as 70 percent of its 65,000 employees are working students.
GADC also offers trainings to enable its workers to upskill and become competitive in the quick service restaurant industry both here and abroad.
Yang said GADC would also continue to focus on improving customer service and customer experience not only by offering new items in the menu, investing in digitalization and growing its online foot print.
“Our digital transformation journey has enabled us not just to scale the business and serve more customers but it has improved how we do it. We are not stopping with these platforms and solutions, more so, continuously working on opportunities coming from evolving customer preferences and behaviors,” Yang said.