Raydan inks 5-year franchise agreement with Soul Advanced Ltd

20/07/2020 Argaam

 

Raydan Food Co. signed on July 19 a renewable five-year franchise agreement with Soul Advanced Limited in Al Baha. 

 

The contract is valued at SAR 112,500 ($30,000), including the franchise fees and a percentage of sales, the company said in a bourse filing.

 

The agreement will help Raydan expand its presence across the Kingdom, the Tadawul-listed company said, adding it will pursue more expansions locally and overseas.

 

The contract will have a positive financial impact on Raydan’s financial statements as of Q2 2021.

 

No related parties are involved in the deal, the statement added.

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