- Rave Restaurant Group Inc's RAVE subsidiary Pizza Inn has signed a development agreement with Principal Master Licensee Walid Haider, Chairman of Azalea Investment LLC in Dubai, UAE. The financial terms of the deal remain undisclosed.
- As per the agreement, five Pizza Inn stores will open in Qatar, with the first store expected in Doha in March of 2022.
- The licensee has the option to open additional new stores.
- "RAVE is excited for Mr. Walid to help expand Pizza Inn's presence in the Middle East. Once these five new stores open, Pizza Inn will have 37 international locations across the globe," said RAVE Restaurant CEO Brandon Solano.
- Price Action: RAVE shares are trading lower by 0.01% at $1.1599 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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