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GOLD BRANDS INVESTMENTS LIMITED - Gold Brands acquires fifty percent of EDS Diner (EDs)

Release Date: 07/11/2017 09:00
Code(s): GBI     PDF:  
Wrap Text
Gold Brands acquires fifty percent of ED’S Diner (“ED’s”)

GOLD BRANDS INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
Registration Number: 2015/168426/06
Share code on the JSE: GBI
ISIN: ZAE 000212791
("Gold Brands" OR "GBI" or "the Company")


GOLD BRANDS ACQUIRES FIFTY PERCENT OF ED'S DINER ("ED's")


Introduction

Shareholders are advised that Gold Brands has entered into an agreement with Mr. V Lazaridis in terms of 
which GBI will acquire in a joint venture company all the rights, trademarks and intellectual property in 
Ed's. The joint venture will own exclusive rights to roll-out and franchise the Ed's Diner concept 
throughout South Africa and GBI will be the exclusive supplier to the new franchise. 

Background information on Ed's

Ed's is a classic American Diner concept where timeless retro-nostalgic d‚cor is mixed with modern 
consumer trends, serving Gourmet burgers, grills, salads and pizzas in a 70s-style space, with music, 
beers and cocktails.

Established in 1989, and under the guidance of Lazaridis, the Ed's brand has become a landmark in 
Pretoria. Current venues are situated in the lush valley of Pretoria-East and the University of Pretoria's 
Groenkloof Campus.

Ed's has always been associated with large portions of fine food, good service and memorable 
experiences.

Nominated and winner of several categories in the hospitality industry, it is a fun, friendly & fast paced 
venue, perfect for family, friends and business meetings.

Rationale

GBI decided last year to enter the gourmet burger market and has been reviewing various concepts over 
the last 18 months, ED's fulfills all the requirements of the concept that the management of GBI had in 
mind and the brand is an established and successful brand that can be rolled out throughout South Africa 
in it's current form.

Categorisation

Due to the fact that the above transaction is less than 5% of the Company's market capitalisation, it is thus 
neither a category 1 nor a category 2 transaction as defined in terms of the JSE Listings Requirements. 
However, the Board of GBI considers it prudent to inform shareholders of this acquisition and thus has 
issued this voluntary announcement. 

Johannesburg
07 November 2017
Corporate and Designated Adviser
River Group




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