Raydan Cuisines and Restaurants Co. has inked a five-year franchise deal with UAE-based Abdulsalam Al Hammadi Group to facilitate the distribution of its products in Dubai.
Under the deal, Abdulsalam Al Hammadi Group will have a franchisee right to distribute Raydan's products in the UAE, in return for a payout of 5 percent of total sales.
The Nomu-listed company expected the deal to have a positive impact as of Q4 2018.
Raydan will also get initial payments on the opening of every new branch in the UAE.
No related parties are involved in the deal.
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