Famous Brands buys O'Hagans

The 26 O'Hagan's outlets -- 22 in South Africa, one in Botswana, one in Zambia and two in Zimbabwe -- for which Famous Brands only said it paid "less than 0,5 percent" of its R4bn-odd market capitalisation, adds to the 32 Keg and McGinty's operations in the portfolio the company bought in August.

"Whenever we get into a category - we have only just recently entered the pub-restaurant category - we [would] like to, in a short space of time, make sure we have depth in that category. For us to go and open 5 pubs and restaurants a year, at the pace at which we can do that, it would take another five years to get to the same density as we have been able to achieve by this transaction," Famous Brands CEO Kevin Hedderwick said in an interview earlier yesterday.