Steers, the most popular fast food burger chain, grew its network by 21 restaurants over the last year. It now has 735 outlets in 13 regions.
Steers’ history dates back to 1960 when George Halamandaris started the Seven Steers steakhouse in Highlands North
Halamandaris, who also started Milky Lane, was also one of the first entrepreneurs to bring the franchising concept to county.
Halamandaris passed away in 1984, and his business empire was inherited by his son, John, and his nephews, Peter, Theo, and Perry.
When they opened a Steers in Sandton City in the eighties, others wanted to launch similar outlets. This encouraged the team behind Steers to launch their franchise programme.
It was an instant hit. More than 15 Steers outlets opened within two years, with this number growing to 250 stores 10 years later.
It was so successful that Steers started to expand into Swaziland, Botswana, Zimbabwe, Kenya, Mauritius, Zambia, Tanzania and Ivory Coast in the nineties.
Over the years, the name changed from Golden Spur to Seven Steer, followed by Branded Steer and Longhorn Steer, before becoming Steers.
It did not stop at selling burgers, chips, and shakes. It has been selling Steers Sauces in most of its restaurants due to popular demand. In 1986, Steers began selling sauces in supermarkets.
Steers Holdings was listed on the Johannesburg Stock Exchange (JSE) in November 1994 in the Travel and Leisure sector. In 2001, it changed its name to Famous Brands.
Since then, Famous Brands has grown to become Africa’s largest restaurant franchisor, known for its world-class fast-food brands.
Famous Brands has a presence in 18 countries and a network of 2,914 restaurants. South Africa is its largest market, with 88% of its restaurant network based in the country.
In 2024, the company generated R1.2 billion, or 15% of our revenue, from its South African franchising operations.
In 2024, it generated R409 million from its SADC operations, with its biggest markets being Botswana and Zambia.
Famous Brands performing well
Famous Brands’ Leading brands segment, which includes Steers, Wimpy, and Debonairs, is performing well. However, its Signature brands segment is under significant pressure.
The company’s Leading brands and signature brands are primarily franchised, with some company-owned restaurants.
The Leading brands portfolio is segmented into Quick Service and Casual Dining brands, and includes well-known names like Steers, Mugg & Bean, Wimpy, Debonairs, and Milky Lane.
The company’s Signature brands include Lupa, Mythos, Paul, Salsa Mexican Grill, Turn ‘n Tender, Vovo Telo, and House of Coffees.
Famous Brands recently released its results for the year through February 2025, which revealed a strong performance from the group.
The company’s revenue grew by 3.23% to R8.28 billion, while its cost of sales rose by 2.10% to R4.74 billion.
Famous Brands’ operating profit was R913.97 million, up 12.57% from the prior year, and its total profit for the year was R584.56 million, up 20.85%.
The company’s basic earnings per share rose from 457 cents to 547 cents per share, growth of 19.69%.
Most of the company’s income in its 2025 financial year came from its South African operations, which contributed R7.63 billion to total revenue.
The company’s Leading brands segment was the largest driver of profit in this year, having made an operating profit of R516.28 million, up 7.5% from 2024.
In contrast, the Signature brands segment swung to an operating loss in the year, having gone from an operating profit of R8.92 million in 2024 to a loss of R9.19 million in 2025.
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Updated: June 2025
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