Raydan signs franchise agreement with Egypt’s Al-Raya Restaurants
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Raydan Food Co. announced signing of franchise agreement registered under "Raydan" trademark with its franchise agent, Al-Raya Restaurants Co. Ltd., based in Egypt, according to a bourse statement today, April 22, 2021.
The contract is valued SAR 112,500 ($30,000) in franchise fees, in addition to a percentage of sales, the firm said, adding that the contract period is five years, subject to renewal.
The contract will have a positive financial impact on the company in Q2 2021.