Raydan Food signs 5 year franchise contract with Ali Muhammed Ali Al Sairi

04/02/2021 Argaam

Raydan Food's branch

Raydan Food Co. signed today, Feb. 4, 2021, a franchise agreement with Ali Muhammed Ali Al Sairi Est., in Bisha City, valued at $30,000 (SAR 112,540), in addition to a percentage of sales, the company said in a bourse statement.

 

The contract has a term of five years from the signing date and can be renewed.

 

This contract is expected to impact the Q4 2021 financials positively, the firm said, indicating that there are no related parties in the deal.

 

Furthermore, the agreement will allow Raydan to expand its branch network in other regions of the Kingdom.

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