Herfy extends MoU with EatRite Food Services to open 50 branches in Nigeria

A restaurant branch of Herfy Food Services

Herfy Food Services Co. extended its non-binding memorandum of understanding (MoU) with EatRite Food Services, granting it franchise rights to open 50 Herfy restaurant branches in Nigeria.

The company said in a bourse statement today, Aug. 29, that the decision to extend the agreement for an additional two months will allow both parties to further study the deal to reach a final agreement.

The financial impact of the MoU cannot be determined currently, the statement added.

On Feb. 28, Herfy signed a MoU with Eat Rite Food Services, granting it franchise rights to open 50 Herfy restaurant branches in Nigeria, Argaam earlier reported.

In May, the company decided to extend the MoU for an additional three months for further study and reaching the final agreement.