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Famous Brands buys 51% of Italian restaurant chain

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(www.lupa.co.za)
(www.lupa.co.za)

Cape Town - Famous Brands [JSE:FBR] has acquired a 51% controlling stake in Lupa Osteria, an authentic Italian restaurant business trading in the full-service family casual dining segment.

The country’s biggest fast-food restaurant chain hopes to expand Lupa Osteria's current three restaurants in KwaZulu-Natal to 35 restaurants across South African and Africa. Famous Brands is well-known for restaurants like Wimpy, Mugg & Bean, Steers, Debonairs and Milky Lane.

“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,” Famous Brands CEO Darren Hele said in a statement on Monday.

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