Riyadh – Mubasher: Raydan Food Company has signed a franchise agreement with Egypt-based Golden Star Est for Ready Meals at a value of $30,000.

The contract has been registered under the trademark Raydan for 6% of total sales besides the franchise fees, according to a disclosure to Tadawul on Tuesday.

Raydan said the contract duration is five years that can be renewed.

This deal is expected to reflect positively on the Saudi firm’s income statements in the fourth quarter (Q4) of 2021.

Earlier this year, Raydan also inked a five-year franchise contract with Egypt’s Al Raya Restaurants Company.