SOUTH AFRICA - African Empowerment Equity Investments (AEEI), which also controls Premier Fishing & Brands is considering acquiring a bigger stake at of South Africa’s consumer brand Pioneer Foods, reports Business Day. AEEI Chief Executive Officer, Khalid Abdulla confirmed the company’s expression of interest in buying a bigger stake in Pioneer. Khalid added that AEEI…
KENYA (Reuters)- Africa-focussed private equity firm Emerging Capital Partners has acquired a majority stake in Kenyan restaurant chain Artcaffe Group, the latest sign of growing international private equity investor interest in East Africa. The move comes after ECP’s stake sale last year in Kenyan casual dining and coffee chain Java House, which also has operations…
INDIA - Jubilant FoodWorks Limited, which holds the master franchise for Domino's Pizza in India has reported 21% rise in revenue to US$120 million during the second quarter, compared to US$99m in the same period last year, LiveMint reports. The company which also operates the Dunkin’ Donuts chain also recorded 60.2% year-on-year growth in net profit…
USA - McDonald’s Corp has posted a 5% increase in revenue and high profits, surpassing estimates by analysts attributed to higher sales in the overseas markets plus an average consumer spending in the US restaurants. According to a report by Reuters, its shares by revenue rose by almost 5% helped by higher global same-restaurant sales…
INDIA - India has become the largest market in Asia in terms of food sales for Starbucks, the world’s biggest coffee retailer, its chief executive officer said. Tata Starbucks, the 50:50 joint venture between Starbucks Coffee Company and Tata Global Beverages in India, wants to increase its food play in the country by micro-localising cuisines,…
ZIMBABWE - Simbisa Brands Limited, a quick service and restaurant company has received a nod from shareholders to acquire a 50% stake in the South African restaurant operating firm, Foodfund Investments. At the same time, the board of directors were given the greenlight to seek listing on the London Stock Exchange’s Alternative Investment Markets (AIM)…
KENYA - American burger chain Hardee’s is set to open its third branch at Two Rivers Mall in March, barely a month after unveiling its second outlet in Kenya on Westlands Road. Hardee’s Kenya general manager Rohit Gambhir in an interview said the Two Rivers branch is targeting the large number of shoppers visiting the…
ETHIOPIA - The company behind Kaldi’s, Ethiopia’s most recognized coffee shop brand, is set to launch the Kentucky Fried Chicken (KFC) franchise in Ethiopia within a year, The Reporter has learnt. Owned by one-time Ethiopian model, Tseday Asrat and Ethiopian Airlines captain, Elias Ketema, KFC Ethiopia is to complement the brands owned by the duo, including Lori-Agro-Industry…
USA – Leading coffee and sweet goods retailer Dunkin’ Donuts has announced that it will eliminate all polystyrene foam cups from its global supply chain by 2020 as part of its sustainability commitments, eliminating up to 1 billion of such packs a year. The company, will commence the replacement initiative in its key US home…
ZAMBIA — Zambia has shut three of South African retailer Shoprite’s Hungry Lion fast-food restaurants after their food tested positive for the bacterium that causes cholera, a government minister said yesterday. Zambia is struggling to contain an outbreak of the disease, which has killed 51 people and made more than 2 000 others sick in…
