FAMOUS BRANDS LIMITED - Famous Brands Expands Casual Family Dining Portfolio with Acquisition of Italian Concept, Lupa Osteria

Famous Brands Expands Casual Family Dining Portfolio with Acquisition of Italian Concept, Lupa Osteria

FAMOUS BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1969/004875/06)
JSE Share code: FBR
ISIN code: ZAE000053328
(“Famous Brands” or “the company”)

FAMOUS BRANDS EXPANDS CASUAL FAMILY DINING PORTFOLIO WITH
ACQUISITION OF ITALIAN CONCEPT, LUPA OSTERIA

Famous Brands has acquired a 51% controlling stake in Lupa
Osteria, an authentic Italian restaurant business trading in
the full-service family casual dining segment.     Founded in
2013, and franchised in 2014, Lupa Osteria comprises three
restaurants in Kwazulu-Natal: Hillcrest, Westville and Durban
North.

The purchase consideration falls below the threshold of a
categorised transaction in terms of the Listings Requirements
of the JSE Limited and will be settled from cash reserves. All
suspensive conditions have been fulfilled and the effective
date of the transaction is 01 May 2016.

Famous Brands’ Chief Executive Officer, Darren Hele, says,
“Over the past year our stated strategy has been to explore and
capitalise on opportunities in the casual dining category - one
of the quickest growing segments in the restaurant industry
over the past decade. Our more recent acquisitions, including
the Mythos brand, demonstrate our progress in pursuit of this
goal.”

He adds, “The Lupa Osteria transaction furthers our ambition to
extend our presence in this market space and aligns well with
the growing consumer trend towards high-quality informal
enjoyment and appreciation of authentic craft-style food in a
relaxed, personalised environment.”

He elaborates, “As consumers continue to follow international
trends, we will increasingly see them choosing to patronise
their ‘local’ restaurant, a familiar, comforting haven in their
immediate neighbourhood.”

Lupa Osteria’s co-founders are Guy Cluver (owner/entrepreneur)
and Chris Black (owner/chef), who together have more than 45
years of experience in the hospitality industry.

Cluver says, “When we conceptualised Lupa four years ago,
underpinning our strategy was the belief that we could grow the
brand nationwide.   We were confident that if the brand found
traction in the Kwazulu–Natal market, as it has, it would do
well elsewhere. Since launching Lupa, we have been approached
by other major players in the industry and are delighted to be
able to choose Famous Brands as a partner.         With their
extensive experience and infrastructure the Group will help us
realise our ambitions for Lupa.”

He adds, “Our inspiration is Roman-style Italian food, as
opposed to other variants of Italian cuisine, which is why we
chose the name ‘Lupa’ - the she-wolf synonymous with and
symbolic of Rome.   Our pasta is homemade and our pizzas are
wood fired, using only imported Italian flour and the finest
local ingredients, contributing to the authentic Italian taste
experience.”

Black comments, “Our restaurants are expressly designed to
emulate a neighbourhood osteria where one feels equally
comfortable enjoying a casual affordable family dinner of pizza
and pasta with a carafe of house wine, or dining on shellfish,
fresh fish and veal with corporate clients.”


He notes, “The menu is a combination of time-honoured classics
and modern interpretations.     Whilst we pride ourselves on
consistency of quality and service, we strive to ensure the
experience is always fresh and contemporary through constant
menu innovation.      We’re also inspired by the theatre
surrounding the dining experience, which is why our pasta is
made in front of our customers at the restaurant entrances.”

Hele says, “Guy and Chris have the energy and enterprise to
continue to grow the brand to its full potential and will
remain jointly responsible for managing the business, supported
by Famous Brands.”

“Trading is buoyant in all three existing restaurants, with
high levels of consumer acceptance, positive feedback and
repeat business.     We are confident that this offering is
suitable for application in a wide range of new markets.  In
the short-term our plan is to grow Lupa’s footprint to six
restaurants in KwaZulu-Natal; over the long-term, we believe
that a network of 35 restaurants in South Africa and select
African countries is achievable,” Hele concludes.

For further information:

Darren Hele                       Frederic Cornet
Famous Brands                     Instinctif
Telephone: (TBA)                  083 307 8286
Midrand

25 April 2016



Sponsor

The Standard Bank of South Africa Limited

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