Nofoth Purchases Maqsoud Restaurants Trademark for SAR 3.7 Million as Expansion Plan

Nofoth Food Products Company announced on Tuesday the signing of the final contract to purchase the “Maqsoud Restaurants” trademark with the Maqsoud Restaurants Establishment in the Kingdom of Saudi Arabia, for a total value of 3.7 million riyals.

The company stated in a statement on “Tadawul” that the deal includes the purchase of the “Maqsoud Restaurants” trademark in addition to the movable assets and properties of two branches of the establishment in Riyadh, for a total value of 3.7 million riyals, indicating that the deal will be financed through internal sources.

It explained that it aims through this deal to achieve strategic expansion and enter the basic food sector, by using the “Maqsoud Restaurants” trademark to enhance the company’s presence and increase its revenues, noting that the deal is expected to contribute to achieving a positive financial impact in the long term, and the initial financial impact is expected to appear during 2025.

This comes in reference to the announcement of Nofoth Food Products Company on Oct. 30, 2024 regarding the signing of a non-binding memorandum of understanding to purchase the “Maqsoud Restaurants” trademark.