Famous Brands Limited (“Famous Brands”) is pleased to announce that its bid to acquire the trademarks and franchise agreements of Black Steer Restaurants and Bulldogs Pubs, previously owned by Black Steer Holdings (Pty) Limited (Black Steer), currently in liquidation, has been accepted. As the transaction is not material to Famous Brands, the value of the purchase consideration has not been disclosed.
Kevin Hedderwick, Famous Brands’ Chief Operating Officer, comments that, “This acquisition aligns itself with our strategic ambitions to cautiously enter those casual dining markets where we currently might not have representation. It also helps remove the confusion that some consumers might have between the Steers and Black Steer brands. We are not taking over any of Black Steer’s liabilities.” Black Steer was founded in 1963 and has strong consumer equity in the casual dining and take-away sector with its famous ribs being its trademark signature product offering.
Black Steer currently consists of 15 franchise agreements in locations across Gauteng, North West Province, Limpopo, Eastern Cape, KwaZulu-Natal and Port Louis, Mauritius. There is only one Bulldogs Pub franchise which trades out of Rosebank, Johannesburg.
“A by product of this acquisition will be our ability to offer the existing franchisees access to the full Famous Brands business model improving the service to this network who have been neglected.” concludes Hedderwick.
For further information:
Chief Executive Officer
Famous Brands Ltd
Telephone: 011 651 5812
Mobile: 083 395 8608