Wiz Founder Rappaport Taps into Israel's Fast-Food Market with McDonald's Bid

Assaf Rappaport, the founder of Wiz which was sold to Google for $32 billion, is in talks to acquire McDonald's Israel franchise. The Israeli operation includes around 230 locations and is valued at an estimated $200 million to $300 million.

The franchise has been a significant player in the Israeli fast-food market since its inception in 1993, when Omri Padan opened the first branch. After three decades of operations, McDonald's global management announced in April 2024 that it would buy back the Israeli franchise for about 1 billion shekels.

However, this arrangement has been met with complaints from customers regarding declining service and cleanliness standards at branches. Rappaport, who comes from a different business world on a different scale, is now considering taking over the franchise through his investment portfolio.