|FAMOUS BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1969/004875/06)
Share code: FBR ISIN code: ZAE000053328
Famous Brands Limited is pleased to announce the acquisition of a 51 % controlling stake in the business of tashas , a successful, upmarket casual-dining cafe concept currently consisting of two restaurants, one in Bedford Village, Bedfordview and the other in Atholl Square, Sandton, both of which will convert to franchised restaurants as at the effective date. Says Kevin Hedderwick, Famous Brands’ Chief Operating Officer, “We are excited about this latest acquisition by the Group as it gives us access to the “premium” end of the casual-dining category where we currently have no representation at all. We have watched the development of this hugely popular concept over the past year, the brain child of Anastasia (Natasha) Sideris and her brother Savva Sideris.
The effective date of the transaction is 1 July 2008. Natasha Sideris and Savva Sideris have been appointed Managing Executive and Operations Executive respectively and will, from 1 September 2008, be employed by Famous Brands, charged with heading up further development and national rollout of the tashas brand. As the transaction is not material to Famous Brands, the value of the purchase price has not been disclosed.
Natasha Sideris is thrilled at the opportunity which the association with Famous Brands will bring to the already successful tashas brand and the potential for future growth through a franchise model that has been perfected by Famous Brands.
tashas has quickly become well-known among a very discerning clientele who are looking for quality food in stylish surroundings with efficient and friendly service,” says Natasha. “This joint venture with Famous Brands represents the perfect marriage between leaders in the food service franchise industry and the creative, driving spirit of the tashas team,” says Natasha. This union will present a unique new opportunity for restaurant entrepreneurs to become involved with a franchise brand that is innovative and distinctive in the South African landscape.
Notes to editors:
|The Group’s brand portfolio includes Steers (524], Wimpy including UK (642), Debonairs Pizza (315), FishAways (112), Mugg & Bean (108), tashas (6), House of Coffees (19), Brazilian/Brazilian Café (48), Blacksteer (12), Giramundo (6), Keg (27) and McGinty’s (5), Vovo Telo (3) and O’Hagan’s (26). The Group also manufactures and supplies its franchisees and the retail trade with a wide range of meat, sauce, bakery, ice cream, fruit juice and mineral water products.|
For further information:
Chief Executive Officer
Famous Brands Ltd
Telephone: 011 651 5812
Mobile: 083 395 8608