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.