Steak

Finweek English Edition - - COMPANIES & INVESTMENTS - Bruce Whit­field

Fa­mous Brands will buy 51% of Turn ’n Ten­der, which is poised to open its fifth Gaut­eng out­let in Bed­ford­view around Easter. Fa­mous Brands plans to ex­pand the net­work to 25 out­lets by 2018 – a de­mand­ing sched­ule for a sit-down con­cept. Much like other re­cent trans­ac­tions, such as the tasha’s deal, man­age­ment keeps a sig­nif­i­cant mi­nor­ity stake, which Fa­mous Brands be­lieves is key to en­sur­ing that it re­mains fi­nan­cially and emo­tion­ally com­mit­ted to the busi­ness.

Turn ’n Ten­der has its roots in the 1977 start-up by the four Aaron brothers. It was res­ur­rected by Brian Aaron 30 years later in Park­town North. He and his brother Mervyn will be on t he Fa­mous Brands pay­roll.

Turn ’n Ten­der is an in­ter­est­ing fit for Fa­mous Brands as it f its snugly in a gap be­tween en­try-level mass mar­ket fast­food con­cepts such as Steers and De­bonairs and pre­mium high-end of­fer­ings. There is also the op­por­tu­nity to lever­age off the Fa­mous Brands man­u­fac­tur­ing and distri­bu­tion ca­pac­ity. Says Fa­mous Brands CEO, Kevin Hed­der wick: “( There) is the op­por­tu­nity to con­vert Turn ’n Ten­der’s ex­ist­ing cen­tralised choice-cuts butch­ery fa­cilit y into one which can sup­ply brand-spe­cific choice­cut meat prod­ucts to the wider Fa­mous Brands fran­chised net­work with min­i­mal cap­i­tal ex­pen­di­ture.”

In that lies a cost-cut­ting op­por­tu­nity across the likes of tasha’s and Mugg & Bean as part of a broader in­te­gra­tion of Fa­mous Brands.

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