NEWS ANALYSIS: Chesa Nyama owner listing short of gravy
IT FEELS as if the listing of Gold Brands Investments, the owner of the Chesa Nyama fast-food franchise, on the JSE’s AltX market has been on the boil for some time.That’s not to say the effort has been overcooked — but the listing was initially mooted in November and did not seem to get the market salivating.Although the local fast food and restaurant sector is still fragmented, the value proposition is largely dominated by large listed players like Famous Brands — which holds a host of brands — and Spur Corporation as well as major global names such as McDonald’s and KFC. Whether Gold Brands has cornered a viable niche will not be apparent immediately — but some thought might be given to whether any parties were interested in any of its brands before the listing.It is worth recalling that some small fast food/restaurant businesses have left a lingering bitter taste on the JSE, with unpalatable returns from businesses including Kingco, Terexko and O’Hagan’s.But Gold Brands has seem...
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