DURBAN – Taste Holdings on Tuesday announced it would offload food brands Maxi’s and The Fish & Chip Company as part of its continuing change and new strategic direction.
The group said it had entered into an agreement in terms of which the company will dispose of the two food brand franchise businesses.
“Shareholders are referred to the company’s Sens announcement of November 1, regarding the change of strategic direction of the company and the consideration by the board of the sale of all of the Taste food brands, being Starbucks, Domino’s Pizza, Maxi’s and The Fish & Chips Company.
"The outcome of this strategy would be for Taste to become a focused luxury retail group consisting of NWJ, Arthur Kaplan and World’s Finest Watches,” the group said.
Taste Holdings sold its local Starbucks franchise for R7 million to an entity called K2019548958 in a strategic shift away from food brands for the company.