By Imani Moise

The International Olympic Committee said it and fast-food giant McDonald's Corp. have agreed to end their long-running partnership before their latest deal was set to expire.

The chain, which began working with the IOC in 1968, said it was shifting its focus as part of its global growth plan.

"We understand that McDonald's is looking to focus on different business priorities," the IOC said in a statement. "For these reasons, we have mutually agreed with McDonald's to part ways."

McDonald's will still provide advertisements and restaurants in Pyeongchang, South Korea, for the 2018 Olympic Games, but the partnership will otherwise end effective immediately. The current deal was supposed to last through 2020, and the IOC said it has no current plans to name a direct replacement.

The agreement ends a nearly half-century relationship between the two organizations. The fast-food chain says it got involved by airlifting burgers to France to U.S. athletes who were homesick for American food. McDonald's became an official sponsor eight years later in 1976.

The IOC said the financial terms of cutting the partnership short are confidential.

Write to Imani Moise at imani.moise@wsj.com

(END) Dow Jones Newswires

June 16, 2017 08:56 ET (12:56 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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