Kingsbury Corporation Plans to Buy McDonald's Operator in Bulgaria

Kingsbury Corporation Plans to Buy McDonald's Operator in Bulgaria

Kingsbury Corporation plans to buy Dutch-based Sunfoods Holding, which controls the licensee of the McDonald's brand in Bulgaria, data published by the country’s competition regulator indicated.
There is no further information about the planned deal in the notification submitted with the Commission for Protection of Competition and published on its website.
According to weekly Capital, Kingsbury Corporation operates in the renewable energy sector.
The first McDonald's restaurant in Bulgaria was opened in 1994. Currently the chain operates restaurants in Sofia, Plovdiv, Pazardzhik, Stara Zagora, Varna, Burgas, Veliko Tarnovo, and Lyubimets.
Sunfoods Bulgaria’s profit fell to 3.5 million levs ($2.4 million/1.8 million euro) in 2012 from 4.6 million levs a year earlier. The McDonald's brand generates some 70 million levs in annual revenue in Bulgaria.
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