Telepizza signs franchise deal with Al Bayan unit in Saudi
MADRID, March 9, 2016
Telepizza, a leading pizza delivery company, has signed a master franchise agreement with Emtyas Catering Compnay, a 100 per cent susidiary of Al Bayan Holding Goup, a leading business group in Saudi Arabia.
It is currently present in 14 countries and its international sales represent more than 30 per cent of total chain sales.
It expects to launch operations in the kingdom following the signing of a master franchise agreement with Emtyaz Catering Company, a 100 per cent subsidiary of Al Bayan, which is the strategic partner for Telepizza in Saudi Arabia.
The agreement includes a commitment to open up to 100 stores within the next ten years, and construction of the first four stores has already begun in the capital city of Riyadh, with openings planned between late April and early May this year.
The company aims to continue expanding its brand to other Saudi locations, including the west -Jeddah- and eastern areas of the country.
With this new strategic partner, Telepizza aims to become market leader for pizza delivery in Saudi Arabia, whose market value this year is estimated by Euromonitor to be €1.3 billion ($1.4 billion) and has growth prospects of 6 per cent over the next 5 years.
Pablo Juantegui, chief executive officer, Telepizza, said: "Our international expansion is gaining momentum after a strong launch, which has been reinforced by international partners who have extensive local knowledge and expertise in key markets, and who are interested in growing our brand globally."
Nasser Al Hammad, executive vice president, Al Bayan, said: "We are very pleased to join the Telepizza Company. Its unique brand concept and the high degree of product innovation -freshly handmade quality pizzas in a Mediterranean style - have been crucial when selecting a new partner.
"Telepizza has strong cultural and quality values, very similar to what we have established in Al Bayan Holding Group. We look forward to growing together in this long term successful partnership." - TradeArabia News Service
