Wiz Founders Near Deal for McDonald's Israel Franchise
Translated & summarized from Maariv by baba
Assaf Rappaport and his three co-founders from the cybersecurity firm Wiz are nearing a deal to acquire the McDonald's franchise in Israel. This follows their previous success selling their company Wiz to Google for $32 billion. The Israeli McDonald's franchise was previously owned by Omri Padan, who brought the brand to Israel in 1993. The deal is not yet finalized as negotiations continue.
The story in 5 lines · by baba
- Assaf Rappaport and his Wiz co-founders are in advanced talks to acquire McDonald's Israel franchise rights.
- The Wiz founders previously sold their cybersecurity company to Google for $32 billion.
- Omri Padan sold the McDonald's Israel operations to the global corporation in 2024.
- Padan had operated the McDonald's franchise in Israel for over 30 years.
- The potential deal represents a significant shift from tech to the food industry for the entrepreneurs.
Assaf Rappaport and his three co-founders from the cybersecurity firm Wiz are reportedly close to acquiring the franchise rights for McDonald's in Israel. This potential deal marks a significant shift in their business ventures, following their international success with Wiz, which was acquired by Google for $32 billion, the largest exit in Israeli tech history. Each of the four Wiz founders is estimated to have received approximately $3 billion before taxes from that sale.
The McDonald's franchise in Israel underwent a change in 2024 when the global corporation bought out the local operations from businessman Omri Padan. Padan had originally brought the American fast-food giant to Israel in 1993, opening the first branch and holding the franchise for over three decades. At the time of the sale to McDonald's global, the Israeli operation included 225 restaurants and employed around 5,000 people.
If the current negotiations are finalized, the Wiz founders would transition from managing a global cybersecurity company to operating one of Israel's most recognizable food brands. The negotiations are ongoing, and a final decision on the franchise has not yet been made.
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