Estie

Fin24.com

2014-03-25 02:39:41 PM

Johannesburg – Famous Brands has acquired a 70% stake in the Wakaberry Frozen Yoghurt Bar business.

Established in 2011 in Durban, this brand is the brainchild of husband and wife team Ken and Michele Fourie and their business partner, David Clark.

The company currently comprises 33 franchised stores, which extend across eight provinces.

The purchase consideration falls below the threshold of a categorised transaction in terms of the Listings Requirements of the JSE Limited and will be settled from cash reserves.

The effective date of the transaction is April 1 2014.

Famous Brands CEO Kevin Hedderwick said over the past two years the food services industry has witnessed the emergence of frozen yoghurt as a robust new category in South Africa.

“This fast growing global phenomenon with its roots in the US and Europe, is quickly gaining momentum locally,” he said.

“We are delighted to have the opportunity to participate in this new and rapidly […]

Fin24.com

2013-09-16 09:24:30 AM

Johannesburg – Fast-food restaurant operator Famous Brands [JSE:FBR] said on Monday it would buy 49% of the restaurant arm of UAC of Nigeria to bolster its presence in Africa’s most populous country.

Famous Brands said the cash deal for an undisclosed amount gives it a wider footprint in Nigeria, where it has operated for the past 11 years through licence and franchise agreements, and is part of its strategy to expand further into Africa.

Stuck with slower growth at home, South African companies are increasingly looking to fast-growing Sub-Saharan markets.

UAC Restaurants has 165 franchised restaurants in Nigeria, with 57 of those in Lagos. That includes the popular Mr Bigg’s brand, Famous Brands said.

Famous Brands operates the Steers and Wimpy fast-food restaurants in South Africa

Click here to read the rest of the story…

Fin24.com

2013-03-25 09:39:32 AM

Johannesburg – Famous Brands [JSE:FBR] has entered into a joint venture agreement with the founder-owners of steakhouse Turn ‘n Tender‚ it said on Monday.
The JV is in line with the group’s strategic intent to extend its presence in the casual dining sector.
Turn’n Tender is a family steakhouse restaurant group started in 1977 by the four Aaron brothers‚ Mervyn‚ Steven‚ Howard and Brian‚ and re-launched in 2007 By Brian and property developer and businessman Farrel Osher.
It has restaurants in Parktown Quarter in Parktown North‚ in the Thrupps Centre in Illovo‚ Nicolway Centre in Bryanston and Camaro View Centre in Bassonia.
In terms of this transaction‚ Famous Brands will acquire a 51% stake in the trademarks and existing franchise agreements in the business‚ which currently comprises the four successful steakhouse restaurants and a choice-cuts butchery all situated in the greater Johannesburg area.
Two of the original founders‚ Brian and Mervyn Aaron will […]