Kraft Heinz Signs Licensing Deal To Sell Branded Frozen Appetizers To TGI Fridays

(RTTNews) - Kraft Heinz Company (KHC), Wednesday announced a new perpetual licensing deal with TGI Fridays to sell branded frozen appetizers to the latter across North American retail markets.

The packaged food manufacturer had initially signed a licensing contract with TGI Fridays in 2001, and most recently in 2015, the company stated.

Pedro Navio, North America Zone President at Kraft Heinz commented, "This new agreement aligns with our strategy to accelerate growth in categories where we can create more value for shoppers. We're proud to offer restaurant-quality frozen appetizers and snacks under the TGI Fridays brand."

Currently, Kraft Heinz's stock is moving down 5.98 percent, to $36.29 on the Nasdaq.