McDonald’s first restaurant in this region was in Puerto Rico in 1967. Since then, McDonald’s expanded its presence across the region, opening its first stores in Costa Rica in 1970, in Brazil in 1979, in Mexico and Venezuela in 1985, and in Argentina in 1986.Arcos Dorados was formed on August 3, 2007, as a result of the acquisition of McDonald’s Corporation's Latin American business by the region’s operations managers. Prior to the acquisition, Woods Staton, Arcos Dorados’ Chairman, CEO, and controlling shareholder, was the joint venture partner of McDonald’s in Argentina for more than 20 years and also served as President of McDonald’s South Latin America division from 2004 until the acquisition. Arcos Dorados announced its initial public offering and became a publicly-traded company on April 14, 2011, after listing its shares on the New York Stock Exchange .
