Nofoth Signs MoU to Acquire Maqsoud Restaurants Brand

Nofoth Food Products Company announced on Wednesday the signing of a non-binding memorandum of understanding to acquire the (Maqsoud Restaurants) brand and to transfer the Maqsoud Restaurants Establishment two branches in Riyadh, including all brand-related assets. It was decided that the memorandum of understanding will start working from the date of its signing by both parties and will be valid for (90) days, and the term of the memorandum of understanding may be extended for a similar period or periods.

The company stated that any material developments regarding the acquisition will be announced in due course in accordance with the relevant regulations and guidelines.