JSE-listed Famous Brands disclosed today that it has acquired an interest in an associate, Munch Software to digitise the restaurant management technology ecosystem.
The restaurant group, which owns Wimpy, Steers, Debonairs and Fishaways, said Munch Software is a recent entrant in the Point of Sale software industry, offering a modern and agile cloud-based platform.
“This new partnership will enable Famous Brands to achieve its ambitions to digitise the restaurant management technology ecosystem and assist the Munch business in reaching critical mass,” Famous Brands informed investors.
“The transaction falls below the threshold for categorisation and therefore there is no requirement for an announcement in terms of the JSE Listings Requirements.”
The acquisition of the stake is effective 16 October 2023.
Famous Brands said its new restaurant roll out plan will gain momentum, including a drive to boost its drive thru presence as new sites become available.
“In addition, we are investing in consumer technology and delivery hubs to improve our own home delivery capabilities.”
The JSE-listed restaurant group added that the home delivery channel continued to gain momentum in several countries with several new consumer-facing technology projects implemented.
“This includes launches of a centralised call centre in Zambia, a Mr Biggs online ordering platform in Nigeria, self-service terminals in Namibia and Botswana and a delivery hub in Gaborone.”