Fournews acquires share in Portuguese brands | Fin24
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Fournews acquires share in Portuguese brands

Sep 20 2016 16:13

Johannesburg - Franchise group Fournews announced on Tuesday that it has acquired a significant share in the Calisto’s Portuguese Restaurant and Senhor Calisto’s fast food outlets.

The group is a private company and operates on a franchise and company-owned model. Its strategy is to acquire South African brands, alongside prominent international brands.

Fournews was established in SA in 1995 and boasts 76 stores across the country and the rest of Africa. Brands include News Cafe, moyo, Brooklyn Brothers and Krispy Kreme.

READ: Krispy Kreme enters SA market

Calisto’s Portuguese Restaurant was founded in a tennis club house in Turffontein, Johannesburg, in 1992 by entrepreneur Jorge Calisto. In 2011 Calisto joined forces with Nicholas Binos to franchise the Calisto’s brand, opening additional stores nationwide.

With 9 restaurants now open across the country, the Calisto’s brand further expanded in 2012 with the launch of Senhor Calisto’s fast food outlet. With 25 stores currently, Senhor Calisto’s specialises in flamed grilled chicken that follows the secret recipes developed by Calisto.

Michael Deftereos, executive director of operations at Fournews, said that, following the introduction of Krispy Kreme to the South African market, the company has, for some time, been looking for a local acquisition.

"We feel that that the synergy of the Calisto’s brand is a perfect fit for our sized company," he added.

“With this deal we move forward into a new and exciting phase for growth within the group. It is a bold move,” said Deftereos.

In his view, ultimately, Calisto’s will leverage off Fournews' existing national footprint as well as their established and successful network in Africa.

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retail  |  mergers and acquisitions  |  franchises


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