Taste to sell two more food brands as it shifts focus to luxury goods

JSE-listed franchisor Taste Holdings [JSE:TAS] says it has entered into agreement to sell restaurant chain Maxi’s and The Fish & Chips Co. as it continues to disinvest from food brands to focus on luxury goods.  

In November Taste announced it would sell its Starbucks stores for R7m. 

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In an update to shareholders on Tuesday, Taste said the disposal of Maxi’s and The Fish & Chips Co. is anticipated to become effective on or about 2 December 2019. Taste did not say would buy the stores or name a price.

The disposal comes as the management group shifts its strategy to become a "focused luxury retail group" consisting of NWJ, Arthur Kaplan and World’s Finest Watches.

- Compiled by Jan Cronje