Taste Holdings offloads its costly food and beverage division (Starbucks, Domino’s Pizza, Maxi’s, etc.)
The South African franchiser, unable to meet the investment costs required to attain financial stability, is selling its Starbucks stores and refocusing on the luxury sector.
07/11/2019 at 17h39, by Africa Business+
Taste Holdings, franchiser and holder of the licences for Starbucks, Domino’s Pizza, Maxi’s and The Fish & Chips Co. in the Rainbow nation, announced at the beginning of the month the sale of its 13 cafés of the American brand to a consortium known as K2019548958 (South Africa) Proprietary Limited, for 7 million rand ($464,000). While no details were forthcoming from the buyer, Taste Holdings was advised on the deal by law firm Cliffe Dekker Hofmeyr.
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