In a game-changing move, the Spur Corporation is set to acquire a 60% stake in the Doppio Zero restaurant group.
The Doppio Zero group owns 37 franchised and company-owned restaurants, a bakery, a central supply chain business, as well as Piza e Vino Italian restaurants and Indian restaurant Modern Tailors.
On the flipside, The Spur Corporation already holds ownership of Spur restaurants, The Hussar Grill, Nikos, Panarotti’s, and RocoMamas.
The 60% acquisition deal will officially kick off on 1 September, once all conditions are met and approved by the competition commission.
As part of the acquisition, a total of 669 employees from the Doppio Group will join the Spur Corporation team. Out of these, 14% work in support and bakery roles, while the rest are employed at the company-owned restaurants. The founders of Doppio Zero will continue as executives in the group for a minimum of five years, ensuring smooth operations and continuity.
The Doppio Group achieved total sales of over R600 million in the financial year ending on 28 February 2023. It all started back in 2002 when the first Doppio Zero opened as a humble bakery and café in Greenside, Johannesburg.
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