South Africa's Famous Brands buys into Nigeria's Mr Bigg's

A South African fast-food restaurant operator, Famous Brands has said it will buy 49 percent of the restaurant arm of UAC of Nigeria Plc to bolster its  presence in Africa's most populous country.

An outlet of Mr Bigg's in Nigeria

   Famous Brands said the cash deal for an undisclosed amount gives it a wider footprint in Nigeria, where it has operated for the past 11 years through licence and franchise agreements, and is part of its strategy to expand further into Africa.
   Stuck with slower growth at home, South African companies are increasingly looking to fast-growing Sub-Saharan markets, especially in Nigeria.
   UAC Restaurants,  has 165 franchised restaurants in Nigeria, with 57 of those in Lagos. That includes the popular Mr Bigg's brand, Famous Brands said.
   Famous Brands operates the Steers and Wimpy fast-food restaurants in South Africa.
Famous Brands rise 1.5 percent to 100 rand, outperforming a flat Johannesburg All-Share index, after the South African fast-food restaurant operator says it will buy a stake in a Nigerian fast-food chain.