Romanian executive and entrepreneur Daniel Boaje has sold his 10% stake in the company that operates the McDonald’s fast food franchise in Romania, according to local law firm NNDKP, which assisted him in this deal.

“The value of the transaction is confidential, but estimates based on market value place it in the eight-digit range,” NNDKP said in a press release.

Local financial daily Ziarul Financiar reported that Boaje got EUR 12 mln from this deal.

The buyer is Maltese group Premier Capital, which owned the remaining 90% in the company.

Premier Capital and Boaje bought the McDonald’s restaurant franchise in Romania in 2016 from the US group McDonald’s which operated it directly at that time.

Boaje was the chain’s manager at that time. He managed the McDonald’s business in Romania for nine years, from 2011 until June 2020 when he announced his departure.

Premier Restaurants Romania currently operates a network of 85 McDonald's restaurants in the country. In 2019, the company had a record turnover of RON 927 mln (EUR 195 mln) in 2019, up by 21% compared to the previous year, and a net profit of RON 123 mln (EUR 25.9 mln).

(Photo: Vlad Ispas/ Dreamstime)

andrei@romania-insider.com