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Famous Brands buys 49% of Mr Bigg's

Johannesburg - Fast-food restaurant operator Famous Brands [JSE:FBR] said on Monday it would buy 49% of the restaurant arm of UAC of to bolster its presence in 's most populous country.

Famous Brands said the cash deal for an undisclosed amount gives it a wider footprint in , where it has operated for the past 11 years through licence and franchise agreements, and is part of its strategy to expand further into .

Stuck with slower growth at home, South African companies are increasingly looking to fast-growing Sub-Saharan markets.

UAC Restaurants has 165 franchised restaurants in , with 57 of those in . That includes the popular Mr Bigg's brand, Famous Brands said.

Famous Brands operates the Steers and Wimpy fast-food restaurants in .

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