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Famous Brands to acquire 49% stake in UAC Restaurants

Published 18 September 2013

South African quick service and casual dining restaurant franchisor Famous Brands has entered into an agreement with UAC of Nigeria for the acquisition of a 49% stake in UAC Restaurants (UACR).

UACR is a diversified conglomerate with operations in foods, paints, logistics and real estate. It operates 165 franchised restaurants across Nigeria, 57 of which are in Lagos and 14 in Abuja.

UACR oversees the Quick Service Restaurant (QSR) component of UAC's business and houses the flagship Mr Bigg's brand, the single largest food franchise brand in Africa, north of the South African border.

Famous Brands chief executive Kevin Hedderwick said the transaction will boost the group's strategy to expand its presence in the broader African QSR market.

"Famous Brands has operated in African countries north of South Africa's borders for 15 years and we have a good grasp of doing business in those territories; prudent expansion in a select range of key markets in the region has always been part of our programme," added Hedderwick.

Mr Bigg's serves a wide range of offerings ranging from pastries and other snacks to burgers and hot meals.