The large Fournews Group – the organisation behind well-known brands such as News Cafe, Moyo and Brooklyn Brothers – has acquired a what the company calls “a significant share” in the local chain of Calisto’s Portuguese restaurants and Senhor Calisto’s fast-food outlets.
Calisto’s was first launched by Jorge Calisto in 1992. It was transformed into a franchise operation when Jorge Calisto teamed up with Nicholas Binos in 2011.
In 2012, the original Calisto’s Portuguese Restaurant concept was enlarged to also include the Senhor Calisto’s chain of outlets – fast-food versions of the Portuguese restaurant. The brand has nine restaurants and 25 fast-food stores.
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“Calisto’s and Senhor Calisto’s are authentic brands with a great story and a fantastic footprint. We are extremely proud to welcome them to the Fournews family and we are proud to partner with the dynamic duo”, says Michael Deftereos, executive director of operations at Fournews.
“Following our introduction of Krispy Kreme to the South Africa market, we have, for some time, been looking for a local acquisition. We feel that that the synergy of the Calisto’s brand is a perfect fit for our company. With this deal we move forward into a new and exciting phase for growth within the group. It is a bold move but the negotiations have been extremely positive from day one, and both teams are eager to carry on with this infectious energy going forward.”
The aim is for the brand to leverage off the Fournews Group’s existing national footprint in order to continue its rapid expansion.
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“Our plan is to assist in the development of the brand together with Jorge and Nico and aside from the obvious growth synergy, we will quickly integrate the brands into our logistics and support platforms providing significant value to our franchisees. Calisto’s is the leading Portuguese Restaurant in the country and Senhor Calisto’s are establishing themselves as the number one choice for Portuguese chicken. They are a perfect fit alongside our other best-in-class brands,” says Deftereos.