Famous Brands to purchase Mugg & Bean

Famous Brands on Monday said it had reached an agreement to acquire the shares in the companies housing the South African and African business of Mugg & Bean for a cash consideration of R104-million.

The effective date of the acquisition will be September 1 2009.

Famous Brands said the acquisition supports its focus on the growth and development of its best-in-class food service franchise brands and would also reinforce its position as a leading quick service and casual dining restaurant franchisor.—I-Net Bridge

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