Famous Brands, a prominent JSE-listed entity, made a significant announcement today regarding its latest venture in the realm of restaurant management technology. They revealed their acquisition of a stake in Munch Software, an associate company, with the intention of spearheading the digitization of the restaurant management technology ecosystem.
Famous Brands, widely recognized for its ownership of popular franchises like Wimpy, Steers, Debonairs, and Fishaways, has deemed Munch Software an innovative and contemporary player in the Point of Sale (POS) software industry. Munch Software distinguishes itself with a cutting-edge, agile, and cloud-based POS platform.
In a statement to their investors, Famous Brands expressed the profound impact they anticipate through this newfound partnership. By collaborating with Munch Software, they are poised to realize their vision of digitizing the restaurant management technology landscape. This synergy will also play a pivotal role in helping Munch Software scale up its operations and reach a critical mass.
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The transaction’s significance is such that it falls below the threshold requiring formal categorization, rendering an official announcement in accordance with the JSE Listings Requirements unnecessary. The acquisition of this strategic stake officially took effect on October 16, 2023.
Famous Brands has charted an ambitious course for its future endeavors. Their restaurant expansion plan is set to gain momentum, which includes an aggressive push to enhance their drive-thru presence as new locations become available. Additionally, they are dedicating resources to bolster their consumer technology capabilities and establish delivery hubs, all in a concerted effort to improve their in-house delivery services.
The company further noted that the home delivery sector is steadily gaining ground in multiple countries, with several innovative consumer-facing technology projects recently launched. Among these projects are the establishment of a centralized call center in Zambia, the introduction of an online ordering platform for Mr Biggs in Nigeria, the deployment of self-service terminals in Namibia and Botswana, and the inception of a delivery hub in Gaborone. This series of initiatives reflects their commitment to staying at the forefront of technological advancements in the restaurant industry.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard