Famous Brands acquires majority stake in Cater Chain Food Services

Restaurant franchise group Famous Brands (Fbr) has acquired a 75% stake in Cater Chain Food Services to bolster its manufacturing capability.

Cater Chain distributes primarily red meat products to customers across SA and into certain markets in Africa.

Famous Brands CE Kevin Hedderwick said on Monday, 8 December 2014, that the "major upside will be the opportunity to integrate currently outsourced business into the facility at a relatively low cost of entry and derive an immediate income stream".

The company‚ whose portfolio includes Wimpy‚ Debonairs Pizza and Steers‚ said the deal whose value was not disclosed would be funded from its cash reserves.

Source: BDpro via I-Net Bridge