Famous Brands Plans UK Drive to Diversify From Rand

South Africa’s Famous Brands Ltd. is planning further expansion in the United Kingdom for its Debonairs Pizza and Steers quick-service chains. The company is seeking increased revenue from currencies other than the South African rand, and reviewing its licensing agreement in the Middle East as growth in the region has slowed. The South African rand has weakened almost 30% against the U.S. dollar in the past 12 months.

The Johannesburg-based restaurant operator has had its best-ever year in the UK, with total sales up 31%. Prior to the UK’s Brexit vote, the company announced plans to add five more Wimpy outlets in the country this year and one Steers restaurant as part of a wider, 292 store-opening plan across international and domestic markets.

Famous Brands owns 25 restaurant chains, represented by a franchise network of 2,545 restaurants across South Africa, Africa, the UK and the Middle East.