Fast food giant McDonald's bought the Israeli company in 2019 but was looking to sell part of its tech earlier this year.

The new serving trays, made by UBQ Materials, will be rolled out in Brazil to replace the food company's old plastic trays.

Arcos Dorados said it will use UBQ's waste conversion solution to replace current restaurant materials with more sustainable ones.

The deal follows McDonald's acquisition in March of New York-based Israeli company Dynamic Yield, which developed customer personalization and decision logic technology.

Dynamic Yield developed an AI-powered 'Personalization Anywhere™' platform; the acquisition is McDonald's largest in 20 years.