The Kraft Heinz Company (KHC) recently announced a perpetual licensing agreement with TGI Fridays. This deal will allow Kraft Heinz to sell its branded, frozen appetizers across TGI Fridays' North American retail locations.
This isn't the first time Kraft Heinz has partnered with TGI Fridays. The packaged food manufacturer originally signed a licensing deal with the restaurant chain in 2001 and renewed the contract in 2015, according to company records.
Pedro Navio, the North American Zone President at Kraft Heinz, expressed his thoughts on the new deal. He views it as an avenue to increase growth in specific categories and offer more value to customers. He emphasized that Kraft Heinz is proud to provide restaurant-quality frozen appetizers and other snacks under the TGI Fridays brand.
However, it's worth noting that despite this promising partnership, Kraft Heinz's stocks have slightly fallen by 5.98 percent, currently trading at $36.29 on the Nasdaq.
