PIC raises stake in Famous Brands

Africa’s largest asset manager, the Public Investment Corporation (PIC), has increased its stake in Famous Brands Ltd., Africa’s largest restaurant franchisor, to R851.48 million ($53.28 million), raising its ownership to 15.02 percent and cementing its position as the company’s second-largest shareholder.

A regulatory filing dated Feb. 16 shows the asset manager acquired an additional 4.83 percent stake for approximately $17 million, up from 10.19 percent previously held.

The move signals renewed institutional confidence in Africa’s largest restaurant franchisor and reflects sustained investor appetite for South Africa’s quick-service restaurant sector.

PIC strengthens position in Famous Brands
With more than 15 million shares now under its control, PIC’s total investment in the Gauteng-based group stands at R851.48 million ($53.28 million).

Famous Brands owns leading consumer brands, including Steers, Wimpy and Debonairs Pizza, maintaining a dominant footprint across South Africa and selected international markets.

Famous Brands expands despite margin pressure
Founded in 1969, the company operates 3,008 restaurants across 20 countries. Of these, 2,666 are in South Africa, with the remainder spread across Southern Africa, other African markets, the Middle East and the U.K.

For the first half of fiscal 2026, revenue increased 5.6 percent to R4.2 billion ($241.18 million), while operating profit rose 5.8 percent to R393 million ($22.6 million). Manufacturing profit surged 23.6 percent, offsetting a 14.8 percent decline in logistics operating profit.

Institutional capital targets consumer leaders
PIC’s expanded stake underscores continued institutional backing for established consumer-facing businesses amid shifting macroeconomic conditions.

The investment positions the asset manager to benefit from Famous Brands’ scale, brand equity and resilient earnings base.