
Steers is owned by Famous Brands Limited, a publicly traded South African restaurant company listed on the Johannesburg Stock Exchange (JSE: FBR). Founded in the early 1960s by George Halamandres, Steers is the original brand of what became Famous Brands, Africa's largest restaurant franchisor. The group operates 3,008 restaurants across 20 countries and reported H1 FY2026 revenue of R4.2 billion, up 5.6% year on year.
Parent Company
Founded
1960
Status
Publicly Traded
Headquarters
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Steers | Famous Brands Limited | Brand division |
The Steers story began in the early 1960s when George Halamandres opened the first Steers restaurant in Johannesburg. The concept was simple: flame-grilled burgers made with 100% pure beef, paired with hand-cut potato chips. This cooking method set Steers apart from competitors that used flat griddles or fryers. The flame-grilling technique became the brand's defining characteristic and remains central to its identity today.
The Halamandres and Halamandaris families grew the business steadily through the 1960s and 1970s. South Africa's quick-service restaurant market was developing rapidly during this period, driven by urbanization and the growth of the middle class. Steers positioned itself as a quality-focused alternative to international fast food chains, emphasizing fresh ingredients and flame-grilled preparation.
In November 1994, the company, then known as Steers Holdings Limited, listed on the Johannesburg Stock Exchange at R1.65 per share, with a market capitalization of approximately R41 million. The listing provided capital for expansion and acquisitions. Following the dawn of democracy in South Africa, the food services category expanded with strong consumer demand, and the company grew through both organic expansion and strategic acquisitions.
The company expanded its portfolio significantly through the 1990s and 2000s. It acquired or developed additional brands including Wimpy, Debonairs Pizza, Mugg and Bean, and RocoMamas. In 2004, the corporate name was changed from Steers Holdings to Famous Brands Limited to reflect the diversified portfolio. Despite the corporate rebranding, Steers remained the flagship brand and the foundation of the group's identity.
In 2016, Famous Brands made its largest international acquisition, purchasing Gourmet Burger Kitchen (GBK) in the United Kingdom for approximately GBP 120 million. The GBK acquisition was intended to provide a platform for international expansion, but the chain struggled in the competitive UK casual dining market. Famous Brands placed GBK into administration in 2020 following the COVID-19 pandemic's impact on the UK restaurant industry, writing off the investment entirely.
Through the 2020s, Steers has continued to expand within the Famous Brands network. The brand has benefited from the group's investment in technology, including the rollout of Munch Software's point-of-sale solution, digital menus, and self-service terminals. In July 2025, Famous Brands launched a new consumer engagement platform for personalized communications and offers. The group also opened a new cold storage facility in June 2025 to increase capacity and reduce transport costs.
In the first half of fiscal 2026 (ended August 2025), Famous Brands opened four new Steers drive-thrus, reflecting growing consumer demand for convenience. The group added 153 new restaurants across all brands in its full 2025 fiscal year and revamped 289 existing locations. Steers continues to serve as a core brand within the Famous Brands portfolio, maintaining its flame-grilled identity while adapting to changing consumer preferences.
What does Famous Brands own?
Famous Brands owns and franchises 16 restaurant brands, including Wimpy (full-service family restaurants), Steers (flame-grilled burgers), Debonairs Pizza (pizza delivery), Mugg & Bean (coffee and casual dining), RocoMamas (smash burgers), Fishaways, Milky Lane, Tasha's, and Fego Caffe. The company operates approximately 2,900 restaurants across 11 markets and also operates manufacturing, logistics, and retail divisions that supply its franchise network.
Is Famous Brands publicly traded?
Yes, Famous Brands Limited is listed on the Johannesburg Stock Exchange under ticker FBR and also trades on A2X under the same ticker. The company has been publicly listed since November 1994, when it listed as Steers Holdings Limited at an initial offer price of R1.65 per share. Famous Brands has a broad institutional and retail shareholder base with no single controlling shareholder.
Who founded Famous Brands?
Famous Brands was founded by George Halamandres, a South African-born entrepreneur of Greek descent, in the 1960s. Halamandres opened the first Milky Lane ice cream parlor in 1958, followed by The Golden Spur steakhouse in 1961 and Seven Steers in 1963. He incorporated the business as Steers Holdings in 1969 and opened the first Steers fast-food restaurant in 1970. The Halamandres and Halamandaris families built the business over subsequent decades before listing on the JSE in 1994.
Where is Famous Brands headquartered?
Famous Brands is headquartered in Midrand, Johannesburg, South Africa. The company's corporate campus is located between Johannesburg and Pretoria. Famous Brands operates restaurants across South Africa, selected African markets, the Middle East, and the United Kingdom.
How many restaurants does Famous Brands operate?
Famous Brands operates approximately 2,900 restaurants across its 16 brands in 11 markets. The vast majority of these restaurants are owned and operated by franchisees. In FY2025, the company opened 122 new restaurants and achieved net restaurant growth of 36 locations. South Africa accounts for 88% of the restaurant network.
Who owns Famous Brands?
Famous Brands Limited is publicly traded on the JSE with a broad institutional and retail shareholder base. No single shareholder holds a controlling stake. Major shareholders include South African institutional investors. Darren Hele serves as Group CEO.
What is Famous Brands' revenue?
For fiscal year 2025 (ended February 28, 2025), Famous Brands reported revenue of ZAR 8.28 billion, up 3.2% from ZAR 8.02 billion in FY2024. Operating profit was ZAR 914 million, up 12.6%. Headline earnings per share rose 11.9% to 520 cents, and the company declared a total dividend of 345 cents per share. Net debt was reduced to ZAR 997 million.
Steers operates under Famous Brands' sustainability framework, which covers environmental responsibility, food safety, and ethical sourcing. The brand has implemented several initiatives aimed at reducing its environmental impact, though these are primarily self-reported rather than independently certified.
Steers reports that 92% of its packaging is biodegradable and compostable, including takeaway bags, burger boxes, chip packets, and sharing boxes. The brand has switched to 100% compostable and recyclable eco-cups and eliminated plastic straws from all restaurants. These packaging changes are self-reported by the brand and have not been independently verified by a third-party certification body.
On animal welfare, Steers sources free-range eggs from farms where chickens are not housed in cages. The brand also sources pork from local pig farmers for bacon, ribs, and rib patties, supporting local agricultural communities. These sourcing practices are part of Famous Brands' broader supply chain strategy, though they are not certified by independent animal welfare organizations.
Steers provides kilojoule counts on all menu items and highlights lower-kilojoule options with a "Better For You" icon. The brand has added TruFruit drinks with no added sugar and sugar-free soft drink alternatives. Fully certified Halaal Steers restaurants operate in selected locations, offering alternatives such as macon for pork and boneless beef rib patties. These initiatives address dietary and religious preferences but are not independently certified sustainability credentials.
Steers has not received major independent industry awards that can be verified through third-party sources. The brand's recognition comes primarily from its longevity and market position as one of South Africa's established quick-service restaurant chains.
Steers is recognized as the original flame-grilled burger concept in South Africa, operating since the early 1960s. This longevity gives the brand significant recognition in the South African market. The King Steer Burger is one of the brand's most recognized products.
Famous Brands, Steers' parent company, is recognized as Africa's largest restaurant franchisor by restaurant count. The group's 30-year listing on the JSE since November 1994 is a notable milestone in the South African business context. The company's vertically integrated model, combining brand franchising with manufacturing and logistics, is frequently cited as a competitive strength in the South African food services industry.
Steers has not been subject to significant product recalls or food safety scandals that are a matter of public record. The brand maintains food safety protocols across its franchise network, with regular audits conducted by Famous Brands' quality assurance teams.
As a fast food brand, Steers faces general scrutiny regarding the health implications of its products. The brand has responded by introducing healthier menu options, including kilojoule labeling, low-kilojoule options, and sugar-free drink alternatives. These measures address consumer health concerns without fundamentally changing the brand's core offering of flame-grilled burgers and chips.
The franchise model creates inherent variability in restaurant quality and service across the Steers network. While Famous Brands sets operational standards and conducts regular audits, individual franchisee performance can vary. This is a structural consideration common to all franchise-based restaurant brands rather than a brand-specific controversy.
Famous Brands faced criticism over its 2016 acquisition of Gourmet Burger Kitchen (GBK) in the United Kingdom. The GBP 120 million acquisition resulted in a total write-off when GBK was placed into administration in 2020. This raised questions about Famous Brands' international expansion strategy and due diligence processes. However, this controversy relates to the parent company rather than the Steers brand specifically.
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Restaurant Brands International | USA | 1953 | Mass market | Global | All-ages | |
| Jollibee Foods | Philippines | 1997 | Mass market | Asia pacific | All Genders | |
| Famous Brands | South Africa | 1934 | Mass market | South africa | All-ages | |
| Jollibee Foods | Philippines | 1985 | Mass market | Regional | All Genders | |
| Jollibee Foods | Philippines | 1978 | Mass market | Asia pacific | All Genders | |
| Yum Brands | USA | 1952 | Mass market | Global | All Genders |
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Market Positioning: Steers competes with 6 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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