Coffee Republic signs International Master Franchise for Saudi Arabia.
Coffee Republic Plc ('Coffee Republic' or 'the Company'), the independent coffeebar operator, announces that an agreement has been reached with Al Hadaf
(Adwest) International trading company ('Al Hadaf') for the granting of Coffee
Republic franchise rights for Saudi Arabia. The agreement provides Al Hadaf with
the right to develop Coffee Republic outlets and to recruit franchisees to
operate Coffee Republic outlets in Saudi Arabia, though it is envisaged that all
the bars will be owned directly.
Al Hadaf is a pioneering advertising agency based in Saudi and its owner, Tareg
Kheder, has interests in a number of other businesses in Saudi, covering a wide
range of industries. Al Hadaf has agreed for at least twenty stores to be opened
in the next 5 years.
Commenting Mr Kheder said 'We are delighted to be working with Coffee Republic
and look forward to introducing the brand to Saudi Arabia over the next few
years.'
Commenting, Steven Bartlett, CEO, said:
'We are pleased to be partnering Al Hadaf to develop Coffee Republic in Saudi
Arabia. They have the necessary skills and expertise to make a success of the
Coffee Republic brand there.
This brings to ten the total number of countries under international franchise
agreements. Discussions are in hand with counterparties seeking rights in other
countries which may lead to further agreements.'
http://www.investegate.co.uk/Article.aspx?id=200804210701007109S
