Waze Founder's Bid for McDonald's Israel Franchise Stuns Retail Sector
Translated & summarized from Haaretz by baba
Assaf Rappaport, founder of Waze, is poised to acquire the McDonald's Israel franchise, surprising experienced retailers who also sought the deal. The approximately billion-shekel acquisition involves 230 branches and marks Rappaport's entry into the retail sector despite lacking prior experience. Industry observers believe Rappaport seeks to expand his influence beyond high-tech into established markets.
The story in 5 lines · by baba
- Waze founder Assaf Rappaport is set to acquire the McDonald's Israel franchise.
- The deal, valued at about one billion shekels, involves 230 branches.
- Experienced retailers were surprised by Rappaport's selection due to his lack of retail experience.
- Several prominent Israeli business figures also vied for the franchise rights.
- Sources suggest Rappaport aims to gain power and challenge established brands.
A group led by Assaf Rappaport, the founder of Waze, is reportedly set to acquire the franchise for McDonald's Israel, a move that has surprised experienced retailers. Several prominent business figures, including George Horesh, Udi Max, Yaakov Shahar, Ronen Nimani, Barak Rosen, and Assi Tochmeyer, had also expressed interest in the coveted franchise. Rappaport, known for his success in the cyber industry, lacks any prior retail experience, making his potential acquisition a subject of industry bewilderment. The deal is expected to cost approximately one billion shekels and involves the operation of 230 McDonald's branches across Israel. Industry insiders suggest Rappaport's ambition extends beyond high-tech, aiming to challenge established players in diverse sectors. "He wants power, and McDonald's is a symbolic brand that sells in every home," one source commented.
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