Famous Brands Limited

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.

The Famous Brands story began in the early 1960s when George Halamandres, a South African-born entrepreneur of Greek descent, opened the first Steers restaurant. Halamandres was born in 1911 to Greek immigrant parents who had settled in Germiston, South Africa. In 1951, he emigrated to California with his wife and son, where he was exposed to American restaurant concepts. Upon returning to South Africa, he opened the first Milky Lane ice cream parlor in 1958 on Esselen Street in Hillbrow, Johannesburg, followed by The Golden Spur steakhouse in Rosebank in 1961.

In 1963, Halamandres opened Seven Steers in Highlands North, Johannesburg. The concept evolved through several name changes, from Golden Spur to Seven Steer, then Branded Steer, then Longhorn Steer, before settling on Steers. In 1969, Halamandres incorporated the business as Steers Holdings. The first Steers franchised restaurant opened in 1965, and by the mid-1970s the chain had grown to approximately 35 units, including expansion beyond South Africa.

Halamandres was joined in the business by his sons George Jr. and John Halamandres, as well as his nephews Panayiotis and Theofanis Halamandaris (the different surname spelling resulted from a clerical error by an immigration officer when the family first arrived in South Africa). The Halamandres and Halamandaris families built the business over subsequent decades.

Steers Holdings listed on the Johannesburg Stock Exchange in November 1994, initially offering shares at R1.65 per share, equating to a market capitalization of R41 million. The listing provided capital to fund an aggressive acquisition and brand development strategy. In 1997, the company acquired Debonairs Pizza. In 1998, it launched Fishaways. In 2003, Steers Holdings acquired Pleasure Foods, which included the Wimpy South Africa franchise rights. In 2004, Steers Holdings was renamed Famous Brands Limited to reflect its diversified brand portfolio.

Further acquisitions followed. In 2007, Famous Brands acquired the Wimpy UK brand. In 2009, it acquired Mugg & Bean. In 2011, it acquired Milky Lane. Under the leadership of Kevin Hedderwick, who rose from shelf-packer to CEO, Famous Brands also acquired Tasha's, Keg, Fego, and other brands, building a portfolio of 16 restaurant brands.

In 2016, Famous Brands made its largest international acquisition, purchasing Gourmet Burger Kitchen (GBK), a UK-based premium burger chain, for approximately GBP 120 million. The GBK acquisition was intended to provide a platform for international expansion. However, GBK struggled in the competitive UK casual dining market, and the COVID-19 pandemic devastated the UK restaurant industry. Famous Brands placed GBK into administration in 2020, writing off the entire investment. The GBK failure was the most significant strategic setback in the company's recent history and raised questions about its international expansion strategy and due diligence processes.

In FY2025, Famous Brands opened 122 new restaurants and achieved net restaurant growth of 36 locations. The company opened its first franchised restaurants in the Democratic Republic of the Congo, Egypt, and Kuwait, and exited Saudi Arabia. In November 2024, the company commemorated 30 years of being listed on the JSE.

Famous Brands has achieved Level 2 B-BBEE (Broad-Based Black Economic Empowerment) contributor status, reflecting its compliance with South African economic transformation requirements. The B-BBEE scorecard evaluates companies on ownership, management control, skills development, enterprise and supplier development, and socio-economic development.

The company's sustainability efforts include investing in energy-efficient equipment at manufacturing facilities, waste reduction programs, and responsible sourcing practices. Famous Brands has implemented water and energy efficiency measures across its manufacturing and logistics operations.

Famous Brands does not hold B Corp certification. The company publishes an Integrated Annual Report that includes sustainability and transformation performance data alongside financial results.

Famous Brands has received recognition for its position as Africa's largest restaurant franchisor and its brand portfolio.

• JSE Listing (1994): Famous Brands (as Steers Holdings) listed on the Johannesburg Stock Exchange in November 1994, marking 30 years of public trading in 2024. The company is included in the Travel and Leisure sector of the JSE.
• B-BBEE Level 2 Contributor (2023): Famous Brands achieved Level 2 B-BBEE contributor status in 2023, reflecting its commitment to South African economic transformation and black economic empowerment.
• Africa's Largest Restaurant Franchisor: Famous Brands is recognized as Africa's largest food services franchisor by number of restaurants and brand portfolio, operating approximately 2,900 restaurants across 16 brands and 11 markets.

The Gourmet Burger Kitchen (GBK) acquisition and subsequent write-off was the most significant controversy in Famous Brands' recent history. The company paid approximately GBP 120 million for GBK in 2016, intending to establish a platform for international expansion. GBK struggled in the competitive UK casual dining market, and the COVID-19 pandemic devastated the UK restaurant industry. Famous Brands placed GBK into administration in 2020, writing off the entire investment. The failure raised questions about Famous Brands' international expansion strategy, due diligence processes, and capital allocation discipline.

Famous Brands has also faced scrutiny regarding franchisee relations. Some franchisees have raised concerns about the terms of their franchise agreements and the cost of supplies from Famous Brands' manufacturing operations. The company's vertical integration model means that franchisees are often required to purchase supplies from Famous Brands' own manufacturing and logistics operations, which can create tension if franchisees believe they could source products more cheaply from third-party suppliers.

The company exited Saudi Arabia in FY2025 and had previously exited Sudan due to war and Oman due to licensee closures. These market exits reflect the challenges of operating in volatile regions and the difficulty of maintaining international operations from a South African base.

The South African operating environment presents ongoing challenges, including electricity supply issues (load shedding), water shortages, elevated food and fuel prices, and high unemployment. These macroeconomic factors affect consumer spending and restaurant performance, creating regulatory and political pressure on companies to maintain affordable pricing.