Crescent Star Foods (Pvt) Limited and Golden Franchising Corporation of the United States would be opening 42 stores in Pakistan, said a stock filing Monday.
Golden Franchising, brand named as Golden Chick, is an American food chain for master franchising rights of the seven Gulf Cooperation Council (GCC) countries. GCC includes UAE, Kuwait, Qatar, Oman, Bahrain and Saudi Arabia.
Officials at Crescent Star Insurance Limited, Crescent Foods's parent company, notified to Pakistan Stock Exchange about the signing of a memorandum of understanding (MoU) between its subsidiary and Golden Franchising.
The deal came after the successful opening of Golden chick stores in Pakistan and holding the Master Franchise rights for Pakistan and Azad Kashmir.
"The company has signed for 42 stores to be opened under the agreed timeline as per arrangement between the company and Franchise," said Cresent's company secretary Mehtab Alam.
The company intended to start the first store from 2017 and expand accordingly, he said.