Taste to sell luxury goods division in group restructure

JSE-listed fast-food business franchising group Taste Holdings has decided that each of its food and luxury goods divisions would be better served as stand-alone businesses and that it will sell its luxury goods division in due course. Part of this intended restructure will see Taste settle its long-term bond debt of R225-million and fund the growth of Starbucks and Domino’s Pizza stores through a combination of equity and debt more suited to the start-up nature of the food division.