South Africans will in future be able to dine at UK restaurant chain Gourmet Burger Kitchen (GBK), following Famous Brands’ R2.1-billion buyout of GBK Restaurants.
The deal will see Famous Brands introduce the burger chain to strategic locations in South Africa, while it will also set out to add a further 10 to 15 restaurants in the UK, which currently has 75 GBK restaurants.
Speaking to Engineering News Online, Famous Brands strategic group adviser Kevin Hedderwick said the roll-out in South Africa was part of the rationale of the transaction, but that it would not be “an immediate priority”.
However, the group would look to start setting up shop by mid-2017.
“Seeing as it is a premium product, we will target Gauteng first – mainly northern Johannesburg and certain suburbs of Pretoria,” he said, noting that the total number of local stores would reach 50.
“This acquisition will transform the future of Famous Brands. GBK is a best-in-class business and brand, with growing consumer equity, supported by a phenomenal leadership team. I am confident that the addition of GBK to our portfolio positions the group optimally to attain its audacious future growth targets,” Hedderwick stated.