Herfy food signs grants commercial franchise rights to open 50 restaurants of Herfy in Nigeria

Herfy food Services Company announced on Wednesday it signed a contract with Eat Rite Food Services Company to grant it franchise rights to open 50 restaurants of Herfy in Nigeria over a period of 10 years renewable.

This comes with reference to the Herfy Food Services Company announcement on Tadawul website dated 28 /10 /2021 regarding an update on the announcement of HERFY CO. signing of a non-binding Memorandum of Understanding (MOU) with the Eat Rite Food Services company to grant it franchise rights to open 50 restaurants of Herfy in Nigeria.

The contract value is “Three Hundred thousand USD, in addition the annual franchise revenue and opening fees for each restaurants.” The company said.

“This contract will have a positive financial impact on the company in the fourth quarter of 2021 and there are no related parties.” Herfy food Services said.