JOHANNESBURG, Sept 16 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
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.
(Reporting by David Dolan; Editing by Pascal Fletcher)