Riyadh – Mubasher: Raydan Food Company has signed two contracts to grant franchise licenses to use its brand through its exclusive commercial agent.

The five-year agreement is valued at $30,000, the company disclosed to the Saudi Stock Exchange (Tadawul) on Monday.

The deal involves two branches in Taif city, thus, expanding Raydan’s presence across Saudi Arabia.

Raydan expects the deal to positively reflect on its financial results in the fourth quarter (Q4) of 2020.