A Raydan Food branch
Raydan Food Co. announced the opening of its franchise branch today, March 2, in Al-Balad district, Samtah city, the company said in a statement to Tadawul.
The delay in the completion of construction works and issuance of licenses was the reason behind postponing the new branch’s opening, Raydan said, indicating there is no change in the costs associated with the franchise agreement.
The company's share of total sales is 6% and the contract will reflect a financial impact on its Q1 2023 financials, the statement added.
In April 2021, Raydan announced signing a five-year franchise agreement, registered under the "Raydan" trademark, with its franchise agent, Okol Food To Provide Meals Est., Argaam earlier reported.
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