American multinational fast food chain McDonald's Corporation has unveiled plans to expand its network to 50,000 restaurants worldwide by 2027.  

The fast-food behemoth operated 40,275 restaurants at the end of 2022.   

As part of its expansion plan, the business will launch CosMc's, a new network of small-format stores with an emphasis on cold beverages.   

The first CosMc will open in Chicago in 2024, followed by nine locations in Texas.

From 2024, the company will begin connecting thousands of eateries throughout the world with Google Cloud technology to enhance operations and the experience of patrons and staff.

By 2027, the company aims to reach a user base of between 150 million and 250 million 90-day active users and deliver $45bn in annual systemwide sales to loyalty members.

McDonald's runs the industry's largest delivery programme globally with 55,000 orders being prepared and delivered to customers at any given moment. 

To meet its new growth target, the company intends to scale this capability, and anticipates a growth of 30% in delivery orders via its mobile app by 2027.

The company anticipates capital expenditures of $2.5bn in 2024 to fund growth. It will increase capital expenditure by $300m to $500m per annum up to 2027.

The expansion plan is part of the company’s Accelerating the Arches strategy, under which it achieved a 30% increase in comparable sales since 2019.

McDonald's president and CEO Chris Kempczinski stated: “As I've said before, there has never been a better time to be part of Brand McDonald's.

“The McDonald's system has demonstrated exceptional execution of our Accelerating the Arches strategy and is delivering tremendous results across our key growth pillars."