McDonald's China changes name to Jin Gong Men Co, plans to double stores
McDonald’s China has changed its official name to Jin Gong Men Co, which roughly translates to Golden Arches.
The official English version of the name according to Reuters is “Golden Arches (China) Co Ltd.” This has changed from a transliteration of the brand name.
The move comes after CITC Capital (China International Trust Investment Corporation) and Carlyle Group took over the 20-year Chinese franchise for McDonalds back in 2016 for $2.08bn.
Currently, CITC holds 52% of shares while Carlyle holds 28%.
The company has cited business development reasons for the change, saying that daily operations such as food safety and operational processed will be unchanged, as will the name and branding of the actual stores.
Records show the name changed on 12th October, and that Jin Gong Men Management CO joined as a new investor on August 24th, while McDonald’s China dropped out.
The business has said it plans to almost double the number of stores it has in mainland China top a target of 4,500 by 2022.
Regina Hui, a spokesperson, old Reuters: “Our restaurant name will remain the same – the change is only at business level.”