The move by empowerment firm Grand Parade Investments, which owns the Burger King franchise, to boost its stake in the nearly 50-year-old Spur Corporation sent the rumour mill into overdrive this week over possible corporate activity in the fast-foods space. While question marks have been raised over how the Cape Town-based firm would be able to acquire Spur, which is double its valuation, the companies did not dismiss talk of future corporate activity outright. Responding to questions over Grand Parade's potential interest in acquiring the R3.4-billion company, Spur Steak Ranches group CEO Pierre van Tonder said it was too early to comment. He added: "I pose this question - is it not for Spur to take over GPI?" Talk of a possible acquisition "creates speculation in the marketplace which isn't even on the table yet", Van Tonder said. "Our perspective is: let the ink dry on the first transaction, then we'll take other transactions bite by bite and see where there are synergies and ho...
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