https://www.engineeringnews.co.za
Engineering|Financial|Logistics|Resources|Services|Operations
Engineering|Financial|Logistics|Resources|Services|Operations
engineering|financial|logistics|resources|services|operations

Famous Brands acquires additional Gauteng properties as it plans expansion

11th October 2022

By: Schalk Burger

Creamer Media Senior Deputy Editor

     

Font size: - +

JSE-listed food services franchisor Famous Brands has entered into an agreement to acquire the entire share capital of and claims against Steers Properties and the entire share capital of and claims against Halamandaris for R181-million, which will be settled from the company’s existing cash resources.

Famous Brands’ primary operations and head office have resided at the 478 James crescent property since 1990 and has been continuously leased from Steers Properties.

As a result of spatial capacity constraints, a plan has been developed, which requires expansion and reconfiguration of the 478 James crescent property to better align with the company’s supply chain plans and activities.

"Famous Brands is best placed to redevelop the 478 James Crescent property and the 37 Richards drive property, together with a neighbouring property it owns, in order to create a better functioning, fit-for-purpose campus at which its Gauteng logistics operations can be consolidated, and efficiencies gained.

"Midrand remains the most suitable centre of gravity for the Gauteng logistics operation," the company notes.

The 478 James crescent property houses the group’s head office, central support services, Signature Brands, AME, retail and supply chain administration teams. The Gauteng ambient warehouse, sauce and spice plants, former Gauteng bakery plant and supply chain engineering team also operate from the 478 James crescent property.

The 37 Richards drive property neighbours the 478 James crescent property and will be used for expansion together with the property situated at 39 Richards drive, which was acquired by the company in the previous financial year.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.138 0.199s - 161pq - 2rq
Subscribe Now