OAK BROOK, Ill., Dec. 15 (UPI) -- The McDonald's Corp. announced Monday it will cut back on some of its non-brand enterprises as part of the company's revitalization plan.
Jim Cantalupo, McDonald's Chairman and CEO, announced the moves to narrow its non-McDonald's brand activity by focusing on the U.S. development of Chipotle and Boston Market, concepts the company says are operating profitably.
Regarding the other restaurant concepts in McDonald's portfolio, Cantalupo announced the company would:
-- Sell Donatos Pizzeria back to its founder.
-- Discontinue its development of non-McDonald's brands outside the U.S., primarily Boston Market in Canada and Australia, and Donatos Pizzeria in Germany.
-- Retain its minority investment in Pret A Manger, but McDonald's Japan will close its Pret units there, as previously announced.
-- Enter into a letter of intent to exit its domestic joint venture with Fazoli's.
Cantalupo said the decisions are designed to eliminate distracting and unprofitable operations, while reallocating resources to McDonald's restaurants and providing a more focused growth for Chipotle and Boston Market.
