Fraser & Neave Holdings (F&N), a 60%-owned subsidiary of Fraser and Neave Ltd, has secured a ten-year franchise giving it exclusive rights to make and sell yoghurt products in the Philippines under the “Yoplait” brand name.

According to a report in the Business Times, F&N signed the sub-franchise agreement with Fraser and Neave (Singapore), a wholly owned subsidiary of Fraser And Neave Ltd.

Under the deal F&N will pay French dairy co-operative Sodiaal a one-off franchise fee of US$400,000 in cash, as well as 3% of the products’ gross turnover as royalties for 10 years.