Raydan Food Co. signed today a franchise agreement with its agent Jalal Rahim Co. at a total value of $30,000, including franchise fees and a percentage of sales, the Saudi-listed firm said in a bourse statement.

 

Under the 5-year renewable agreement, Jalal Rahim will distribute Raydan products in Star Plaza Center, Hafar Al-Batin.


The deal is expected to have a positive financial impact on Raydan’s financials starting from Q2 2020.

 

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

 

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

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