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%.
The sale means Boparan will have a 99-strong portfolio of restaurants in UK, with a further 32 franchised globally.