Steers Holdings Limited - Acquisition Of Creative Coffee Franchise Systems (Pty)
Limited
Steers Holdings Limited
(Registration No. 1969/004875/06)
Share Code: STE ISIN Code: ZAE 000008330
("Steers Holdings")
ACQUISITION OF CREATIVE COFFEE FRANCHISE SYSTEMS (PTY) LIMITED
Steers Holdings will be expanding its business activities of establishing and
developing franchised, branded Quick Service Restaurants to include franchised
coffee shops through the acquisition of the shares in and shareholder claims
against Creative Coffee Franchise Systems (Pty) Limited ("Creative Coffee"),
which is the franchisor of the coffee shops operating under the names House of
Coffees Coffee Shops, ESP The Illy Boutique and Brazilian Coffee Shops (the
"brand names"), with effect from 1 June 2003.
The recent past has seen significant growth in the number and popularity of
franchised coffee outlets. Steers Holdings views the acquisition as an
opportunity to capitalize on this trend. The combinations of Steers Holdings"
proven expertise in establishing and developing franchise outlets and the well-
established and successful brand names it is acquiring will enable Steers
Holdings to grow the franchising business operated by Creative Coffee and over
time add significant value to Steers Holdings" operations.
The acquisition is still subject to the completion of a due diligence
investigation and the conclusion by Creative Coffee of suitable licence
agreements in terms of which they are licensed to use the brand names.
This announcement is unrelated to the cautionary announcement published on 28
March 2003.
Johannesburg
17 April 2003
Sponsor
Java Capital (Proprietary) Limited
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