APRIL 12 2010 17:23h
Georg Gavrilovic younger and Robert Kujundzic, former head of McDonald's in Croatia, bought all 16 McDonalds restaurants.
According to Bussines.hr the overall sale sum is still unknown, but the balance sheet from 2008 says that restaurants, property, plant and equipment is worth around 84.3 million kunas.
McDonald takeover talks lasted about a year and a half and Gavrilovic claims that him and Kujudnzic were recognized as reliable partners. They intend to open two new restaurants by the end of the year and to renovate the existing two.
This transaction has been confirmed from McDonald's, where it was noted that this model applies to more than 50 countries around the world. They add that about 80 percent of McDonalds restaurants are run by local entrepreneurs who use a conventional franchise, joint venture partnerships and development licenses.
McDonald's believes that this will improve their business
McDonald's also says that they are very impressed by the professional, structured and disciplined approach to business by Kujundjic and Gavrilovic. They believe that this team will significantly improve their business.
Gavrilovic and Kujundzic have opted for a development license, which means that they will provide capital for the overall operations of restaurants, and McDonald will only pay a fee based on the percentage of sales. McDonalds still retains the right to approve the design of restaurants, operational processes and the use of their name.
The first Croatia McDonalds opened in Zagreb in 1996 and seven additional bussiness were opened since then. According to the financial report from 2008 the McDonalds Croatia has achieved a total revenue of about 192 million kuna, while their net profit was about 11 million.
McDonalds was founded in the 1954 in California's San Bernardino, when Ray Kroc saw how the brothers Dick and Mac McDonald served a large number of guests in the restaurant. Ray Kroc was impressed with the restaurant and struck a contract with McDonalds brothers.