Lee’s CEO Ryan Weaver said the restaurant prototype will be more focused on off-premises business, which has maintained higher mix levels from the pandemic.
High demand and costs, coupled with low inventory and construction/permitting delays, have created development bottlenecks for many companies itching to grow.
With the acquisition of Carlyle’s minority stake, McDonald’s increases its ownership stake in China from 20% to 48% as it aims to get to 10,000 units in the market by 2028.