Famous Brands buys controlling stake in Mexican restaurant business
JSE-listed Famous Brands has acquired a 51% stake in recently launched Salsa Mexican Grill, a fast-casual dining concept centred on traditional Mexican food and beverages.
The brand is currently represented by its maiden restaurant, in Fourways, Gauteng, with two further franchised outlets scheduled to open during the course of this year.
“This joint venture furthers our stated strategy to compete more vigorously in the fast-casual dining category, one of the quickest growing segments in the restaurant industry over the last decade,” said Famous Brands CEO Darren Hele.
He added that local consumers enjoyed spicy flavours and were increasingly willing to try new varieties of modern, authentic cuisine.
“Globally, fast-casual Mexican concepts are experiencing double-digit growth and we anticipate that Salsa Mexican Grill will quickly mirror that trend.”
Salsa Mexican Grill was founded by George Nicolopoulos and Symeon Yiallouris. The business is owned by the pair, George’s brother Thanasi Nicolopoulos and two other partners.
“The brand is based on a contemporary interpretation of a traditional Mexican restaurant. We strive to create an atmosphere that is authentic and epitomises Mexican entertaining – which is festive, welcoming and homely. This ambience is echoed in our décor and food and the service offered by our highly trained staff,” said George Nicolopoulos.
He added that Salsa Mexican Grill’s immediate goal was to open more restaurants, but the initial focus would be on building the brand in Gauteng.
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