Famous Brands (FBR) announced Monday that it has acquired the franchise agreements, trademarks and intellectual property of Milky Lane and Juicy Lucy from Java Brands for 30.95 million rand.
The acquisition will be funded through a combination of existing cash reserves and short-term debt, and will be earnings enhancing, the company said.
The transaction is subject to successful fulfilment of conditions precedent and is effective 1 March 2011.