Keeping up with its business strategy of acquiring and developing best of brand and best in class businesses, Famous Brands has bought the Europa brand and Fego Caffé from Antimo Foods for an undisclosed sum.
The move was made based on the quality of the assets, says Group CEO Kevin Hedderwick: “These are really nice assets because they do two things for us – they give us the opportunity to get into the family dining environment through Europa, and breakfast and coffee are significantly growing sectors in South Africa. Through this acquisition we’re able to expand our presence in those categories.”
Adding to the mix
Famous Brands purchased coffee roaster, Java Lava, earlier in the year to secure the supply chain for its brands, and later in the year opened a dairy factory in Port Elizabeth to begin supplying brands with cheese and dairy products. To date Famous Brands’ portfolio consists of Wimpy, Debonairs Pizza, Steers, Mugg & Bean, Fish Aways, Keg Restaurants & Pubs, O’Hagans, and Milky Lane.
The Europa network consists of 31 restaurants, while Fego Caffé consists of 27 restaurants. Antimo Foods CEO, Salvatore Osato, says that they are confident the brands’ franchisees will benefit from the experience, infrastructure and support systems Famous Brands can provide. Famous Brands has plans to grow Europa and Fego Caffé to 50 restaurants each in the next five years.