The Hussar Grill consists of six restaurants across Cape Town‚ including outlets in Rondebosch‚ Camps Bay‚ Green Point‚ Stellenbosch‚ and Constantia.
Spur's chief executive Pierre van Tonder said the purchase would give the group exposure to an upmarket specialist steakhouse chain.
He said the Hussar Grill brand was highly regarded in the Western Cape‚ with the Hussar grill-room in Rondebosch having operated for the past 50 years.
"We plan to capitalise on this brand by expanding the chain in the Western Cape and also extending the presence into other regions to eventually gain a national footprint‚" he said.
The effective date of the transaction was January next year.
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