SPUR CORPORATION LIMITED - Spur Corporation acquires Hussar Grill steakhouse chain
13 December 2013 9:00
SUR 201312130007A
Spur Corporation acquires Hussar Grill steakhouse chain

Spur Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/000828/06)
Share code: SUR
ISIN: ZAE 000022653
(“Spur Corporation” or “the group”)


Spur Corporation has bought the Western Cape-based Hussar Grill steakhouse
chain for R35 million in cash.

The chain, which comprises six restaurants, was started in 1964 when the first
Hussar Grill opened in Rondebosch in Cape Town. Further outlets have been
opened in recent years in Camps Bay, Green Point, Stellenbosch, Tygervalley
and Constantia. Three of the restaurants are company-owned and three are
franchised outlets.

Spur Corporation chief executive officer, Pierre van Tonder, said the acquisition
will give the group exposure to an upmarket specialist steakhouse chain.

“Our heritage and expertise in Spur is managing steak ranches and we bring this
experience to a higher segment of the restaurant market which be believe has
good growth prospects.

“As an experienced multi-brand restaurant franchisor we are excited to
incorporate another strong brand into our growing portfolio. The management of
the Hussar Grill will be integrated into the Spur franchise operations and enable
us to maximise growth opportunities for the chain.”

Van Tonder said the Hussar Grill brand is highly regarded in the Western Cape,
with the iconic Hussar grill room in Rondebosch having operated for the past 50

“We plan to capitalise on this brand equity by expanding the chain in the Western
Cape and also extending the presence into other regions to eventually gain a
national footprint,” he said.

“We have seen high levels of interest from our current Spur franchisees who
would also like to own an upmarket steakhouse within the Spur group. The
acquisition of the Hussar Grill will create the opportunity for our existing
franchisees to invest in their own specialist steakhouses and this will be one of
the drivers of the expansion of the new chain.”
The effective date of the transaction is 1 January 2014.

Cape Town
13 December 2013

Sasfin Capital
A division of Sasfin Bank Limited

Legal advisor
Bernadt Vukic Potash & Getz

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