Famous Brands announced on Monday that it has sold its controlling 51% stake in tashas to the founding Sideris family, who hold the remaining 49%.
“The sale is in line with the group’s three year-strategic roadmap which includes a narrower focus of investment of resources in the signature brands portfolio, which includes tashas,” the group said in a statement.
The group did not say what the 51% stake cost.
Famous brands in 2008 acquired a 51% stake in the business. As of 30 July 2020, it has 18 restaurants in South Africa and eight in the United Arab Emirates.
– Compiled by Jan Cronje