Famous Brands sells stake in Tashas to founding family

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Mongezi Mtati

Famous Brands has sold its controlling 51% stake in boutique café brand, Tashas, to the founding Sideris family, who hold the remaining 49%.

Image credit: Tashas via Instagram

Famous Brands, which owns Wimpy, Mugg & Bean, Steers and Vovo Telo, said the Tashas sale is in line with the Group’s three year-strategic roadmap, which includes a narrower focus of investment of resources in the Signature brands portfolio, which includes Tashas.

Tashas was founded in 2005 by Natasha Sideris, partnered by Savva Sideris, her brother. In 2008 Famous Brands acquired a 51% stake in the business, which comprised two restaurants.

As at 30 July 2020, the network comprises 18 restaurants in South Africa and eight in the United Arab Emirates.

There are no suspensive conditions and the deal is effective 1 August 2020.