The Fournews Group has acquired what it calls ‘a significant share’ in Calisto’s Portuguese Restaurant and Senhor Calisto’s fast-food outlets.
The Fournews Group – the company behind well-known brands such as News Cafe, Moyo, Brooklyn Brothers and Krispy Kreme – has acquired a significant share in the local chain of Calisto’s Portuguese Restaurant and Senhor Calisto’s fast-food outlets.
Calisto’s was launched by Jorge Calisto in 1992, and was franchised when Jorge Calisto joined forces with Nicholas Binos in 2011. In 2012, the original concept was expanded to also include Senhor Calisto’s – a fast-food version of the Portuguese restaurant. The brand currently boasts nine restaurants and 25 fast-food stores.
The Fournews Group – which recently introduced Krispy Kreme to the South African market – has acquired a large share in Calisto’s Portuguese Restaurant and Senhor Calisto’s fast-food outlets.
“Calisto’s and Senhor Calisto’s are authentic brands with a great story and a fantastic footprint. We are extremely proud to welcome them to the Fournews family and we are proud to partner with the dynamic duo”, says Michael Deftereos, executive director of operations at Fournews.
“Following our introduction of Krispy Kreme to the South Africa market, we have, for some time, been looking for a local acquisition. We feel that that the synergy of the Calisto’s brand is a perfect fit for our company. With this deal we move forward into a new and exciting phase for growth within the group. It is a bold move, but the negotiations have been extremely positive from day one, and both teams are eager to carry on with this infectious energy going forward.”
The path forward
According to Fournews, the brand (Calisto’s) will be able to leverage off Fournews’ existing national footprint in order to continue its expansion.
“Our plan is to assist in the development of the brand together with Jorge and Nico and aside from the obvious growth synergy, we will quickly integrate the brands into our logistics and support platforms providing significant value to our franchisees. Calisto’s is the leading Portuguese restaurant in the country and Senhor Calisto’s are establishing themselves as the number one choice for Portuguese chicken. They are a perfect fit alongside our other best-in-class brands,” adds Deftereos.
Source: Standard Bank BizConnect www.bizconnect.standardbank.co.za.