Africa's largest restaurant franchisee... limited sale from Panis Trust | What's the reason?
Selling a limited portion of its shares
Written by Amna Hassan
The Panis Trust, linked to the family that founded Famous Brands, is the largest restaurant franchisee in AfricaThe company sold a limited portion of its shares for approximately 2.1 million rand (about $129,000), a move that observers considered more of a portfolio reorganization than an indication of declining confidence in the company.
Limited sale of a strategic stake
According to disclosures from the Johannesburg Stock Exchange, the fund sold 34,067 shares across three transactions executed between July 2 and 6, with most shares sold at 61.88 rand per share, while the other transactions were completed at 61.50 rand.
The transactions were made public because Nicholas Halamandris, a non-executive director of the company, is a trustee and beneficiary of the trust.
Despite these sales, they represent less than 0.6% of the fund’s total stake, which owns about 5.73 million shares, equivalent to 5.72% of the company’s capital, making it one of its largest shareholders.
Financial performance boosts investor confidence
The sale coincided with a marked improvement in Famous Brands’ results during the financial year ending February 2026, with revenues rising by 5.6% to 8.7 billion rand, while underlying earnings per share increased by 12.1%.
The company also increased its dividend payout by 10.7% and continued to implement its share buyback program, indicating strong cash flows and improved operating performance after years of challenges.
Recovery after difficult years
Over the past few years, the company has undergone a restructuring phase following losses incurred as a result of the acquisition of the British restaurant chain Gourmet Burger Kitchen in 2016, before the latter entered judicial administration in 2020, which led to the write-off of the investment value and affected the stock's performance for a long period.
But the company has managed to regain its momentum, with its shares rising by about 9% since the beginning of 2026, driven by expansion plans, improved operational efficiency, and increased returns for shareholders.
Ongoing institutional trust
In contrast, South Africa’s Public Investment Corporation (PIC), the continent’s largest asset manager, increased its investment in the company, an indication of continued institutional investor confidence in the group’s transformation path.
Famous Brands operates around 3,000 restaurants across Africa and the Middle East through nearly 20 brands, most notably Steers, Wimpy, Debonairs Pizza and Mugg & Bean, along with food manufacturing and logistics activities, cementing its position as one of the continent's largest restaurant franchisees.
