Famous Brands wants even bigger share in SA foodie market

File: Famous Brands has invested a controlling stake in Italian restaurant Lupa Osteria. It says it will use the 51 percent stake to expand the business from 5 to 35 eateries. Photo: eNCA/Herbert Opland

JOHANNESBURG -- Famous Brands is hoping to get an even bigger share of South Africa’s growing foodie market.

The food group has invested a controlling stake in Italian restaurant Lupa Osteria.

It says it will use the 51 percent stake to expand the business from just five restaurants in KwaZulu Natal, to 35 eateries across the country and other African markets.

Famous Brands is well-known for restaurants like Wimpy, Mugg & Bean, Steers and Debonairs.

It says it's looking to monetise its business in the casual dining category.

The company did not disclose the price tag for the deal, while its shares gave up 1-percent.
 

eNCA

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