Private equity veteran Guy Hands has agreed a deal to acquire McDonald’s 435 venues in the Nordics.
Deal value was undisclosed, but Danish business paper Berlingske Business reported in December that the portfolio of fast food restaurants could fetch around $420m (€392m).
The deal will see Hands become the master franchiser and developmental licensee for McDonald’s in the Nordics. Around 95 per cent of McDonald’s outlets in the region are owned by franchisees.
“It’s an exciting opportunity to launch a strong partnership with a world leading global brand,” Guy Hands said in a press release.
McDonald’s is the biggest fast-food operator in the Nordics, but according to Business Insider is facing increasing competition from rivals chains like Max in Sweden and Friends & Brgrs in Finland.
Hands, a developmental licensee, will be able to invest in the chain in the region. Plans include modernising and digitalising outlets.
Correction: This story has been corrected to say that Guy Hands has agreed the deal with McDonald’s and not Terra Firma, as originally stated. Apologies for the error.