Steers, South Africa’s most popular fast food burger chain, has added 21 new restaurants over the past year. The brand now operates 735 outlets across 13 countries.
Steers traces its roots back to 1960, when George Halamandaris opened the Seven Steers steakhouse in Highlands North, Johannesburg. Halamandaris, who also founded Milky Lane, was one of the first to introduce franchising in South Africa.
After Halamandaris passed away in 1984, his son John and nephews Peter, Theo, and Perry took over the business. In the 1980s, when they opened a Steers outlet in Sandton City, other entrepreneurs showed interest in opening similar stores. This demand led the team to start a franchise program.
The franchise took off quickly. Within two years, more than 15 Steers outlets opened. Ten years later, the number grew to 250. During the 1990s, Steers expanded into neighboring countries including Swaziland, Botswana, Zimbabwe, Kenya, Mauritius, Zambia, Tanzania, and Ivory Coast.
The brand’s name evolved over time—from Golden Spur to Seven Steer, then Branded Steer, Longhorn Steer, and finally Steers.
Steers has also expanded its product range beyond burgers, chips, and shakes. Due to high demand, the company started selling its popular Steers Sauces in supermarkets beginning in 1986.
In November 1994, Steers Holdings listed on the Johannesburg Stock Exchange (JSE) under the Travel and Leisure sector. In 2001, the company rebranded as Famous Brands.
Today, Famous Brands is Africa’s largest restaurant franchisor, with a network of 2,914 restaurants across 18 countries. South Africa remains its biggest market, accounting for 88% of the outlets.
In 2024, Famous Brands earned R1.2 billion, or 15% of its revenue, from its South African franchising operations. The Southern African Development Community (SADC) operations contributed R409 million, with Botswana and Zambia as the leading markets.
Famous Brands Shows Strong Growth
Famous Brands’ Leading brands, which include Steers, Wimpy, and Debonairs, performed well over the past year. However, the Signature brands faced significant challenges.
Both Leading and Signature brands are mostly franchised, with some company-owned restaurants. The Leading brands category includes Quick Service and Casual Dining brands like Steers, Mugg & Bean, Wimpy, Debonairs, and Milky Lane. Signature brands include Lupa, Mythos, Paul, Salsa Mexican Grill, Turn ‘n Tender, Vovo Telo, and House of Coffees.
The company recently released its financial results for the year ending February 2025. Revenue rose 3.23% to R8.28 billion, while the cost of sales increased 2.10% to R4.74 billion.
Operating profit climbed 12.57% to R913.97 million. Total profit grew by 20.85% to R584.56 million. Earnings per share increased nearly 20%, from 457 cents to 547 cents.
Most revenue came from South Africa, which contributed R7.63 billion. The Leading brands segment was the largest profit driver, with operating profit rising 7.5% to R516.28 million.
In contrast, the Signature brands segment shifted from a profit of R8.92 million in 2024 to a loss of R9.19 million in 2025.
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