JOHANNESBURG (Reuters) - South African fast-food
restaurant operator Famous Brands said on Monday
it would buy 49 percent of the restaurant arm of UAC
of Nigeria Plc to bolster its presence in Africa's most
populous country.
Famous Brands said the cash deal for an undisclosed
amount gives it a wider footprint in Nigeria, where it
has operated for the past 11 years through licence
and franchise agreements, and is part of its strategy
to expand further into Africa.
Stuck with slower growth at home, South African
companies are increasingly looking to fast-growing
Sub-Saharan markets.
UAC Restaurants has 165 franchised restaurants in
Nigeria, with 57 of those in Lagos. That includes the
popular Mr Bigg's brand, Famous Brands said.
Famous Brands operates the Steers and Wimpy fast-
food restaurants in South Africa
news.yahoo.com/south-africas-famous-brands-buys-stake-nigeria-fast-065029459--sector.html