/ 27 July 2009

Famous Brands to purchase Mugg & Bean

Famous Brands on Monday said it had reached an agreement to acquire the shares in the companies housing 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