Market Analysis

McDonald's plans to invest 1 billion pounds ($1.30 billion) in the U.K. and Ireland over the next four years, opening new restaurants and creating over 24,000 jobs.

The company--which opened its first U.K. restaurant in London's Woolwich high street in 1974--said Wednesday that it plans to open more than 200 new stores as part of its investment to meet evolving customer expectations.

McDonald's said that it plans a renewed focus on high street locations. It also plans to upgrade and reimagine over 1,500 existing restaurants in the U.K. and Ireland, including testing new restaurant formats.

"We're proud of what we have delivered in the last 50 years and are committed to investing in new opportunities and supporting growth across the U.K.," McDonald's U.K. and Ireland Chief Executive Alistair Macrow said.