Cooks to establish JV for Middle East, Africa and West Asia
Term sheet establishes venture to drive regional branded coffee growth; JV partner to take a minority stake in Cooks
Cooks Global Foods (NZAX.CGF) today announces it has agreed to establish a joint venture with its current Saudi Arabian Master Franchisee, Anasia Foods to drive the growth of its branded coffee outlets in the Middle East, North Africa, and West Asia (MENAWA).
Anasia Group is owned by Sheikh Anas Abudawood, Chairman of Abudawood Group which distributes products in the Middle East region for multinational companies such as Proctor & Gamble, Quaker Oats & Ferrero Rocher.