Raydan signs 2 franchise agreements with Al Bundqia Sweets

Raydan Cuisines and Restaurants Co., on Jan. 13, signed 2 franchise agreements with Al Bundqia Sweets for 5 renewable years in Taif.

According to a bourse filing, the deal covers the Raydan branch at Shehar Street and also the Raydan Express branch.

The franchise agreements are valued at SAR 112,500 ($30,000) for Shehar’s branch and SAR 37,500 ($10,000) for Raydan Express, plus a percentage of sales for both branches.

The two deals would have a positive impact on Raydan’s Q4 2020 financials, and no related parties are involved in the deal.

The agreements will help Raydan expand its presence across the Kingdom, the Tadawul-listed company said, adding it will pursue more expansions inside and outside the Kingdom soon.