Famous Brands Announces The Acquisition Of Lexi’s Healthy Eatery
Famous Brands Announces The Acquisition Of Lexi’s Healthy Eatery. Famous Brands has announced that it has acquired 51% of Lexi’s Healthy Eatery with effect from 1 April 2022. Lexi’s is a casual dining restaurant brand, offering a full-service, sit-down, plant- based dining experience across all key day parts: breakfast, lunch and dinner.
The acquisition pertains to the franchise and central kitchen operations of the business. The acquisition is aligned with Famous Brands’ three-year strategic roadmap, which includes acquiring brands that have the potential to lead in their category, and which offer growth prospects based on opportunities to improve existing operational efficiencies in the target business.
Famous Brands is a branded food services business operating franchised, master license and Company-owned restaurants. It’s vertically integrated business model comprises three pillars: Brands, Manufacturing and Logistics. The Brands portfolio consists of a number of restaurant brands, represented by a network of restaurants across SA, the rest of Africa, the Middle East and the UK. The portfolio is segmented into Leading brands and Signature brands.
Lexi’s was founded in 2018 by Lexi Monzeglio. Lexi is the creative lead on brand and product development and strategy, while her business partner, Ezio Nichele, manages the operations of the company, which comprises four restaurants, three owned by Monzeglio and Nichele, while one is franchised. The restaurants are located in Rosebank, Modderfontein, Hazelwood (Pretoria) and Sea Point. Lexi’s also operates a fledgling central kitchen which develops and produces meals for the restaurants and retails a limited range of convenience frozen goods to a small number of supermarkets. The menu is plant-based, being almost entirely vegan, gluten-free and refined sugar-free.
The joint venture partnership offers significant value for both parties. As the creator and developer of the brand, Lexi Monzeglio brings a unique skill set and intellectual capital in a relatively untapped market niche for Famous Brands. Together Lexi and her partner, Ezio Nichele, will be key to developing the strategic direction of the business through their vision and capability.
