Muscle Maker Signs 40 Unit Franchise Deal
Muscle Maker has secured a Master Franchise Agreement to open 40 units in Saudi Arabia, marking its second international deal after a 10-unit agreement in Kuwait. If fully executed, this contract could expand Muscle Maker's international footprint by 400%. The franchise partners from Kuwait will manage the development, training, and operations of these new locations. The Saudi fitness market is projected to reach $1.3 billion by 2022, underscoring the demand for healthier dining options.
- Agreement to open 40 units in Saudi Arabia could increase international footprint by 400%.
- Expansion strategy leverages existing Kuwaiti partnership.
- Growing demand in Saudi Arabia's fitness market projected to reach $1.3 billion by 2022.
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Muscle Maker Grill continues rapid expansion with Saudi Arabia deal. This represents the second international agreement after 10-unit Kuwait agreement. Deal, if fully executed, could potentially increase international footprint by up to
LEAGUE CITY, TEX., Nov. 01, 2021 (GLOBE NEWSWIRE) -- – Muscle Maker Inc (Nasdaq: GRIL) the parent company of Muscle Maker Grill, Pokemoto and SuperFit Foods today announced that it has inked a Master Franchise Agreement for 40 units in the Kingdom of Saudi Arabia; solidifying the company’s second multi-unit international deal. Saudi Arabia is the largest country in the Middle East and the newly signed 40 unit agreement will grow the company’s international footprint by
Muscle Makers’ current Kuwaiti international franchise partners Abrar Kadhem Almatrouk, Abdullah Kadhem Almatrouk, Yousef Kadhem Almatrouk and Essa Kadhem Almatrouk will expand the healthier for you brand across the Kingdom of Saudi Arabia by selling franchise units in packs of 10 units. They will be responsible for all facets of development for new locations in Saudi Arabia including but not limited to opening, training, distribution, operations and marketing.
“We are pleased to announce our 40 unit Master Franchise Agreement, our second international deal, quadrupling Muscle Maker Grill’s future presence in the Middle East,” said Mike Roper, Chief Executive Officer of Muscle Maker, Inc. “We’re thrilled that growth plans with our Kuwaiti partners are coming to fruition by expanding healthier for you options into the Kingdom of Saudi Arabia. According to research, the Kingdom of Saudi Arabia Fitness Service Market is expected to reach
“We are excited to continue our partnership with Muscle Maker, Inc. and to be the franchisor that develops the brand in Saudi Arabia,” said Abdullah Kadhem Almatrouk, the Muscle Maker Grill international partner in Kuwait on behalf of his partnership that includes Abrar Kadhem Almatrouk, Yousef Kadhem Almatrouk and Essa Kadhem Almatrouk, “We were attracted to the brand for its ability to offer a healthier for you alternative that doesn’t sacrifice taste and have since opened two units in Salmiya and Mubarak Alkabir Governorate Kuwait. The brand is well received locally and we’re ready to make some moves in both Kuwait and the Kingdom of Saudi Arabia.”
About Muscle Maker Grill
Muscle Maker Grill was Founded in 1995 in Colonia, New Jersey and features “healthier for you” high quality, great tasting food, freshly prepared with proprietary recipes. Muscle Maker, Inc. is the parent company of Superfit Foods (www.superfitfoods.com), a Jacksonville, Florida, based fresh-prepared meal prep company focused on delivering dietary specific meals direct to consumer homes or designated pick-up locations. In addition, Muscle Maker, Inc. is the parent company of Pokemoto, a “healthier for you” fresh ingredient poke bowl concept. Pokemoto (www.pokemoto.com) features fresh Atlantic salmon, sushi-grade tuna, fresh fruits and vegetables and propriety recipes. For more information on Muscle Maker Grill, visit www.musclemakergrill.com.
Forward-Looking Statements
This press release may include “forward-looking statements” pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as “should”, “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Muscle Maker, Inc does not undertake any duty to update any forward-looking statements except as may be required by law.
Contact:
Muscle Maker Grill Marketing:
marketing@musclemakergrill.com
Investor Relations:
IR@musclemakergrill.com
FAQ
What is the significance of Muscle Maker's new deal in Saudi Arabia?
How does the Saudi deal compare to Muscle Maker's previous agreements?
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Who will manage the new operations in Saudi Arabia?
