Franchising

Cinnabon signs multi-unit deal in Kingdom of Saudi Arabia

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December 1, 2021

Cinnamon has announced a deal with the Innovative Union Company (IUC) to bring 130 new bakeries to the Kingdom of Saudi Arabia (KSA) within the next five years. The new bakeries will be added to the 120 Cinnabon locations that IUC currently operates in KSA. Once the additional units open, IUC will be the largest Cinnabon franchisee in the world with 250 bakeries, according to a press release.

The development agreement is Cinnabon's largest since the beginning of the COVID-19 pandemic, showcasing the brand's strong international momentum despite the obstacles facing the food service industry. IUC recently joined forces with the Saudi Social Bank to help fund Cinnabon business owners and guide emerging entrepreneurs to financial independence. In accordance with new government sanctions, the Saudi Social Bank will provide a two-year interest-free loan to individuals returning to work and opening their own business.

"We're thrilled to partner with IUC to expand Cinnabon's footprint across KSA," Beto Guajardo, president of Focus Brands International, a division of parent company Focus Brands LLC, said in the release. "At a time of revolutionary development for Saudi business owners, we are confident that IUC is set-up to provide the financial tools, resources and support for budding entrepreneurs to operate a successful franchise business."

"We're passionate about Cinnabon and driving entrepreneurship in KSA. We really want to help prospective business owners accomplish their dreams," Mohammad Alohaly, sub franchise general manager of IUC, said in the release. "We're looking forward to increasing Cinnabon's footprint and accessibility throughout the region. More importantly, we're excited to bring employment opportunities to a growing number of eligible professionals who are looking to enrich their careers and achieve financial prosperity."

Cinnabon is the franchisor for more than 1,200 franchised Cinnabon locations worldwide.