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Integrated Annual Report

Profile

Investment Case

Investment Case

Our portfolio of iconic brands supported by a vertically integrated business model which enables economies of scale and predictability in difficult trading conditions. We have demonstrated sustained operational resilience through various macroeconomic cycles and an evolving operating landscape since our listing on the JSE in 1994.

A well-established market leader

  • A strategic portfolio of iconic brands that appeals to consumers across income and demographic bands, meal preferences and value propositions.
  • A strong trading track record, marking 30 years as a JSE-listed company in November 2024.
  • A compelling value proposition for franchise partners and a quality offering for consumers.
  • A geolocation analysis shows that 27% of Famous Brands' SA QSR network does not have a significant fast-food competitor within a 5km radius1.
Read about our brands here.

South Africa's largest food franchisor with

2 626 restaurants

21 brand awards won in 2025

153 new restaurants opened in 2025 including eight new drive thrus, seven in SA and one in Zambia

Three new franchised markets opened in 2025

1. SBG Securities research available at https://thevault.exchange/?get_group_doc=27/1678176549-SBGFamousBrandsInitiation-PreparingforGrowth.pdf

The owner-operator edge

  • A stable portfolio of dedicated, resilient franchise partners with a proven track record of success in challenging trading conditions.
  • The average tenure of our SA franchise partners is 11 years, with some of these relationships extending beyond 30 years.
  • Several SA franchise partners have developed multi-restaurant and multi-brand portfolios.
  • A healthy pipeline of potential franchise partners and strong demand for our brands.
Read about our franchise partner management here.

Number of restaurants per SA franchise (%)

One store
Two to five stores
Six to 10 stores
10 to 30 stores

Click on a chart segment to view details

Competent leadership and well-defined strategy

  • Our experienced Board supports our entrepreneurial management team, which leads and operates in a high-performance culture.
  • A focused strategy to grow in SA and in other selected markets, both organically and by acquisition, to enhance long-term, sustainable stakeholder value creation.
  • Our effective corporate governance establishes the policies and practices for ethical behaviour and ensures that stakeholder interests are protected.
Read about our governance and our strategy here.

A stable Exco team with the

required and necessary skills and experience

Resilient business model

  • A vertically integrated Supply Chain provides manufacturing and distribution capabilities to our South African franchise partners, and exports to capabilities in selected markets for the Rest of Africa.
  • Reliable, competitive services lead to a strategic advantage, positioning our franchise partners to deliver like-for-like growth.
  • Menu options provide diversification across food categories, shielding the Group from supply chain challenges in isolated food categories.
  • A growing, high-potential Retail offering.
Read about our business model here.

R41 million invested in manufacturing technology in 2025 to create capacity and realise operational efficiencies.

Rolled out 4 product offerings to consumers.

Sound financial position and prudent capital management

  • A healthy balance sheet and an effective debt structure.
  • A relatively capital-light business model.
  • Cash-generative operations and sustainable earnings.
  • Sustainable value is generated by ensuring strong returns on invested capital.
Read in the Group Financial Director's report here.

Management has reduced debt levels by R 1.8 billion over the last eight years.

Return on capital employed (ROCE) (%)

Net debt: EBITDA (times)

Environmental, social and governance credentials

The Group is a responsible corporate citizen dedicated to continuous improvement and sustainable development through sound governance, regulatory compliance and global best practice transformation. By delivering against our ESG Framework, we contribute to a more sustainable environment for the benefit of all.

Read about our sustainability performance here.

Eliminated single-use plastic across our brand network

No food waste to landfill in our Supply Chain operations

26 319 kilolitres in water savings through our water recycling plants

Geographic Footprint
Chairman’s Report