McDonald’s Australia is set to invest more than $1 billion into expanding and upgrading its network of restaurants.
The expansion move is the biggest since the 1990s, and will see more than 100 new restaurants open over the next three years, according to The Australian.
McDonald’s Australia has confirmed the plans to 7NEWS.com.au.
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Alongside the $600 million expansion, McDonald’s will also spend $450 million on upgrading more than half of its current locations.
Despite rising inflation and the ongoing cost of living crisis, the fast food chain’s chief executive Antoni Martinez said the expansion will be a “really great growth opportunity journey”.
“What we’re really excited to announce and talk to the broader customer base is a really exciting growth ambition for McDonald’s over the next three years,” Martinez said.
“More so than we’ve ever seen since the early 1990s.”
Thirty new restaurants are set to open this year, with the fast-food giant hoping to have more than 1100 restaurants under its belt nationally by 2025.
Martinez said the targets were “ambitious” but that the company had seen growth in areas such as online delivery and its drive through outlets.
“It tells us that Aussies are really keen to see more McDonald’s in their local communities,” he said.
“We’re seeing growth around a country with transport hubs that really provide a great opportunity for McDonald’s to look at accelerating that growth as well.”
McDonald’s own delivery app and rewards program MyMacca’s has become increasingly popular among consumers.
Over the past 12 months, Martinez said customers had redeemed more than 58 billion points and more than 14 million products through the program.
The app’s popularity highlights “the value that customers put towards convenience”, Martinez said.
“It provides another platform for customers to engage with their favourite brands.”
It’s believed the planned expansion and upgrades over the next three years will generate 40,000 new jobs.