Famous Brands disposes of its 49.9% stake in It’s a Matter of Taste (Pty) Ltd.

The Group has sold its 49.9% stake in It’s a Matter of Taste (Pty) Ltd, with effect from 31 October 2020. The business comprises the By Word of Mouth and Frozen for You brands.

The sale, to majority shareholders and founders Karen and Adrian Short, is in line with the Group’s three year-strategic roadmap which includes a narrower focus of investment of resources in its core offering.

The disposal consideration falls below the threshold of a categorised transaction in terms of the Listings Requirements of the JSE Ltd. There are no suspensive conditions.

The financial information on which this announcement is based has not been reviewed or reported on by the Group’s external auditors.

30 November 2020

The Standard Bank of South Africa Limited