South Africa's Famous Brands buys 51% of Italian restaurant chain Lupa Osteria

A Steers burger meal: South Africa’s Famous Brands is the owner of Steers, Debonairs Pizza and Wimpy restaurants

South Africa‘s biggest fast-food restaurant chain Famous Brands will take a 51 percent stake in Lupa Osteria, an Italian restaurant business, it said on Monday, in a drive to extend its presence in the casual dining sector.

The company, which runs Steers, Debonairs Pizza and Wimpy restaurants, did not disclose financial details of the deal.

Lupa Osteria co-founders Guy Cluver and Chris Black plan to expand the business to six restaurants in KwaZulu-Natal and in the long-term have a network of 35 in South Africa and select African countries. The business runs three at present.

Read more: South Africa’s Famous Brands buys 51 pct of Italian restaurant chain | Reuters