More Famous By The Day

Showing no signs of slowing down on its aggressive growth plans, Famous Brands is set to open another 243 restaurants across South Africa this year.

More Famous By The Day

The brand, which owns Steers, Wimpy and Debonairs, is in a prime position to continue growing. It has a strong balance sheet with no debt, R26 million in cash, enjoyed a 20% increase in headline earnings per share, and has market capitalisation of R10,9 billion.

Expansion plans

“This strong position facilitates further growth, whether by acquisition or organically,” says group CEO Kevin Hedderwick who has appointed Darren Hele as CEO of food services in order to focus more on strategies and acquisitions.

“We aim to expand our food service business through the leisure category into hospitality, beverages, fast-moving consumer goods and food retail, and there’s still some work to be done in the food service runway to unlock value for shareholders,” says Hedderwick.

Tracy Lee Nicol
About the Author
Tracy-Lee Nicol is the managing editor of Franchise Zone Magazine and deputy editor of Entrepreneur Magazine. She studied her Masters degree in Art History and Visual Culture at Rhodes University and spent the next two years working and travelling in Asia. Her love of people, business and teaching is reflected in telling the stories of entrepreneurs, franchisees and franchisors, inspiring others to take the leap to being their own boss and bringing about positive change in South Africa.

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