Famous Brands operates Debonaires Pizza, Steers, Wimpy and other outlets.
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A trust linked to Famous Brands founding-family member and non-executive director Nicolaos Halamandaris has sold more than R2.1 million in Famous Brands shares in three transactions this month.
JSE disclosures show the Panis Trust, of which Halamandaris is a non-controlling trustee and beneficiary, sold 28,294 shares on the market on July 2 at R61.8803 each, in a transaction worth R1.75 million.
The following day, the trust sold another 4,184 shares at R61.50 each for R257,316. A further 1,589 shares were sold on July 6 at R61.50 each, taking the value of the three July disposals to about R2.1 million.
In total, the trust sold 34,067 Famous Brands shares across the three transactions.
Famous Brands shares were trading at about R58.53 on Monday, giving the restaurant group a market capitalisation of around R5.86 billion.
The Panis Trust is a significant shareholder in Famous Brands. The group's latest annual report showed the trust held 5.72% of the company.
Halamandaris, known as Nik, is a member of one of the families behind the origins of Famous Brands.
The Famous Brands story dates back to the 1960s, when George Halamandres opened the first Steers restaurant. The business was owned and operated by the Halamandres and Halamandaris families and expanded over the following decades.
In November 1994, the group, then known as Steers Holdings Limited, listed at R1.65 a share with a market capitalisation of R41 million. The group has since evolved from a family-owned company into a listed food services business, although the founding families have remained shareholders.
Famous Brands CEO Darren Hele acknowledged the family’s continued involvement in the group's annual report. “I also thank the Halamandaris and Halamandres families, who have remained shareholders throughout our group’s evolution, for their continued support,” Hele wrote.
Halamandaris has extensive experience in the food services industry and was a franchise partner for several of the group's mainstream brands for about two decades until 2010.
Currently a non-executive director of Famous Brands, Halamandaris is an executive director of several unlisted property development and construction companies, where his responsibilities include strategy and new business development.
The July transactions follow previous direct share sales by Halamandaris in 2024, when he sold 200,000 shares in August and a further 200,000 shares in September. The JSE disclosures do not state the reasons for the latest Panis Trust share sales.
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