FBR
FBR
FBR - Famous Brands Strengthens Ciro Relationship With Sale Of Coffee
Contact
FAMOUS BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1969/004875/06)
Share code: FBR ISIN code: ZAE000053328
("Famous Brands" or the "company")
VOLUNTARY ANNOUNCEMENT: FAMOUS BRANDS STRENGTHENS CIRO RELATIONSHIP WITH
SALE OF COFFEE CONTACT
Famous Brands announced today that the group has, subject to the
fulfillment of conditions, sold its coffee roasting business, Coffee
Contact, to Ciro Alliances, a division of AVI Limited for an undisclosed
amount.
Famous Brands acquired a 100% interest in Coffee Contact in December 2006,
with a view to expanding the group`s retail and hospitality offering, and
supplying coffee to its franchise network.
Chief Operating Officer Kevin Hedderwick says: "Famous Brands has a long-
standing relationship with Ciro, which currently supplies our franchise
network including House of Coffees, Brazilian Cafe, Steers and Wimpy. Upon
review, the integration of Coffee Contact as a supplier to the group at the
expense of Ciro would have strained that relationship and delivered limited
upside in exchange."
"We are delighted to announce this win-win transaction for all parties.
This deal strengthens our relationship with Ciro, which has the
infrastructure and expertise to exploit the potential in the Coffee Contact
business, and simultaneously ensures that our group continues to benefit
from a best-in-class supplier whilst enabling us to focus on our specific
core competencies," he concludes.
Johannesburg
21 June 2007
Sponsor
Java Capital (Proprietary) Limited
Date: 21/06/2007 08:30:42 Produced by the JSE SENS Department.
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