FAMOUS Brands has bought 100% of GBK Restaurants in the UK and Ireland for £120m subject to approvals. At a hedged rand-sterling exchange rate of R17.50, the acquisition of Gourmet Burger Kitchen (GBK) adds 75 company-owned restaurants to Famous Brands. These offer eat-in, take-away, and online delivery in the premium hamburger category in the UK. Founded in 2001, GBK operates a differentiated, flexible, fast-casual dining model, which caters to a variety of meal times. Shops are open from about 11am to 11pm. "We think it’s a terrific price. GBK is a fabulous asset, with a great management team," Kevin Hedderwick, former Famous Brands CEO and now group strategic adviser, said on Thursday. He said the chain of premium quality burger stores was a prime asset for Famous Brands to have landed in a competitive British marketplace.
The shops sell burgers, fries, milkshakes, and craft beer. "(The beer) is one of the things that differentiates the brand," he said. Hedderwick said fund...
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