Famous Brands has sold fast food chain Gourmet Burger Kitchen (GBK) to Boparan Restaurant Group (BRG), a UK based restaurant group. The sale comes after GBK entered administration as a result of the COVID-19 pandemic.
Famous Brands bought the chain for £120m ($155m) in 2016 with the intent to grow the chain internationally. Instead, it turned out to be a drain on Famous Brands’ financial resources. In August Famous Brands sold back its controlling 51% stake in boutique café brand, tashas, to the founding Sideris family, who hold the remaining 49%.
Boparan Restaurant Group owns the Cinnamon Collection, Fishworks, Carluccio’s, Slim Chickens, Giraffe and Ed’s Easy Diner chains. Its purchase is designed to save 35 GBK outlets, although 26 outlets will close.
The sale means Boparan will have a 99-strong portfolio of restaurants in UK, with a further 32 franchised globally.
