McDonald’s China changes name to ‘Jin Gong Men’
Change made to meet the need of business development, but daily operatations and the name of the restaurants will remain the same
McDonald’s China Co. has changed its name to “Jin Gong Men Co,” which roughly translates to “Golden Arches,” after CITIC Capital and Carlyle Group took over the franchise, Caixin has reported.
The company confirmed that the change was made to meet the need of its business development. Daily operations, including the food safety standard and operational process, as well as the name of the restaurants will remain the same.
Registration records show that the company changed the name on October 12. And there are also some changes regarding its investors.
Jin Gong Men Management Co. joined as a new investor on August 24, while McDonald’s China dropped out.
Previously in 2016, the CITIC Group and Carlyle Group purchased the 20-year franchise of McDonald’s China for US$2.08 billion.
The CITIC Group has secured 52% of the new company’s shares, while the Carlyle Group holds 28%.