Famous Brands, which owns Wimpy, Steers and Debonairs, among other brands, yesterday announced it had acquired Lexi’s Healthy Eatery as part of its strategic investment roadmap.
The JSE-listed company acquired a 51 percent stake in the mostly vegan, whole-food restaurant. The acquisition is effective from April 1.
With this move, Famous Brands joins its counterpart Tiger Brands, which announced on Monday that it acquired a plant-based food company, Herbivore Earthfoods, alongside private equity firm Secha Capital.
According to Famous Brands, the acquisition is aligned with its three-year strategic roadmap, which includes acquiring brands that have the potential to lead in their category and which offer growth prospects based on opportunities to improve existing operational efficiencies in the target business.
“Famous Brands’ existing portfolio does not include an exclusively vegetarian…