Johannesburg
– Alt-X-listed Gold Brands Investments has concluded a
franchising deal with a UK restaurant operator Casual Dining
Group (CDG).
CDG operates
restaurant businesses Bella Italia, Café Rouge, Las
Iguanas and Belgo.
Gold Brands
Investments will exclusively introduce these brands to South Africa,
with the first store scheduled to open during the course of 2017 and a
minimum of 20 opening across the country in the next five years.
The agreement is in line with Gold Brands’ vision of become the leading
franchise company, both within the South African market and
internationally, by offering their customers unique and authentic brands
with unbeatable value, it says in a statement issued on Monday.
The CDG brands
are complementary to Chesanyama, it says.
“The
new partnership will see Gold Brands’ exposure in these
markets increasing further. As part of the deal, all products will
continue to be sourced from local suppliers to deliver CDG’s recipes.”
The agreement
also supports CDG’s international franchising expansion strategy, and is
anticipated to present growth opportunities for Gold Brands’ home grown
brands in new markets, Gold Brands says.
Gold Brands CEO Praxia Nathanael
says “we believe that this
partnership with CDG will deliver on a real need in the South African
market where customers want new, interesting and exciting dining
experiences. CDG’s restaurants fit, too, with Gold Brands’
existing brand portfolio and follows our proven track record in delivering
relevant new concepts.
“This deal follows the consolidation of our Chesanyama store base,
which will see us enhance the quality of our franchise network and
deliver the best possible experience to our customers. With this process
in place, combined with CDG’s proven concepts, we see exciting growth
opportunities for the company.”
Nathanael adds Gold Brands will work closely with
CDG to localise the outlets.
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