The ongoing ‘pizza war’ is an acquired taste
As Taste Holdings’ value plummets, baubles may be its only hope
Salvaging value at Taste Holdings, which backed the expansion of global brands Starbucks and Domino’s Pizza in SA, is not going to easy — it may even be impossible for some unfortunate shareholders.
Consider this damning statistic: over the past five years, Taste raised more than R1bn from shareholders in rights issues and other capital-raising exercises. The group’s market value on the JSE now ranges between R44m and R66m — which is less than half the value of the fund-raising exercise held in February. That’s a serious roasting...