Founding family trust trims stake in Africa’s largest restaurant franchisor

A trust linked to the family that founded Famous Brands, Africa’s largest restaurant franchisor, has reduced its stake in the company after selling shares worth about $129,000 (R2.1 million), according to regulatory filings.

• A trust linked to Famous Brands’ founding family has sold shares worth about $129,000 (R2.1 million).
• The disposal represents less than 0.6% of the trust’s holding in the restaurant group.
• Famous Brands recently reported stronger earnings and higher dividends.
• South Africa’s Public Investment Corporation has meanwhile been increasing its investment in the company.

The Panis Trust, which is associated with the Halamandaris family, sold 34,067 shares in three transactions between 2 July and 6 July, filings on the Johannesburg Stock Exchange (JSE) showed.

The sales were disclosed because Nicolaos Halamandaris, a non-executive director of Famous Brands, is both a trustee and beneficiary of the trust.

The trust sold 28,294 shares at R61.88 each on 2 July before disposing of another 4,184 shares and 1,589 shares at R61.50 on 3 July and 6 July, respectively.

Despite the transactions, the sale represents only a small portion of the trust’s investment.

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According to Famous Brands’ latest annual report, the Panis Trust held 5.73 million shares, equivalent to 5.72% of the company. The latest disposal accounts for less than 0.6% of that holding, indicating the trust remains one of the restaurant group’s largest shareholders.

The company did not disclose the reason for the sales, which is typical for insider trading announcements filed with the JSE.

The transactions also came at prices above the stock’s latest market value. Famous Brands closed Monday at R58.53 per share, meaning the trust sold the shares at roughly a 5% premium to the current trading price.

The disposal comes as Famous Brands continues to strengthen its business after several challenging years.

For the financial year ended February 2026, the company reported a 5.6% increase in revenue to R8.7 billion, while headline earnings per share rose 12.1%.

The board also increased its dividend by 10.7% and continued a share buyback programme, reflecting improved cash generation and confidence in the business.

The recovery follows years of rebuilding after the company’s £120 million acquisition of British restaurant chain Gourmet Burger Kitchen in 2016.

The UK business entered administration in 2020, forcing Famous Brands to write down the investment and weighing on its share price for years.

Even so, investor sentiment has improved. The company’s shares have gained about 9% since the start of 2026 as management focuses on strengthening operations, expanding into new markets and improving shareholder returns.

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At the same time, South Africa’s Public Investment Corporation (PIC), the continent’s largest asset manager, has been increasing its stake in the company, signalling continued institutional confidence in the restaurant group.

Founded from a single Steers restaurant in Johannesburg before listing on the JSE in 1994, Famous Brands has grown into one of Africa’s biggest quick-service restaurant operators.

The group owns or franchises nearly 3,000 outlets across about 20 brands, including Steers, Wimpy, Debonairs Pizza, Mugg & Bean, FishAways and Milky Lane, while also operating food manufacturing and logistics businesses that supply its restaurant network.

The Halamandaris family has gradually stepped back from day-to-day management over the past two decades but remains among the company’s key long-term investors.

For now, the latest transactions appear to represent a modest portfolio adjustment rather than a significant reduction in the founding family’s commitment to the business.

Meanwhile, growing institutional investment suggests confidence in Famous Brands’ turnaround story remains intact.