GDK in talks to sell major stake to private equity firm True
The news comes as the group announced its plans to open two new UK sites, in Norwich and Bluewater Shopping Centre
Investment firm True is reportedly in advanced talks with German Doner Kebab (GDK) to buy a major stake in the firm, according to Sky News.
GDK, which is run by chief executive Simon Wallis, is currently part of Hero Brands, a Glasgow-based incubator of food and beverage concepts.
Sky News has learnt that the planned sale would be at “a stellar valuation”.
While specific details of the deal between True and Hero Brands remain undisclosed, several other potential bidders are understood to have engaged in discussions with Hero Brands earlier in the process.
One party that considered investing in the business told Sky News that bankers at Cavendish have been overseeing the process.
The news comes as the group announced its plans to open two new UK sites, in Norwich and Bluewater Shopping Centre.
The launch of its Norwich site marks the company’s 4th opening of the year and its 147th UK location to date. The planned opening of its Bluewater site is part of the company’s ambitious expansion plans for 2025.
The two new openings will create 40 jobs at both sites respectively and open up the brand’s new menu to more places.
True Capital and Hero Brands have been contacted for comment.