Wimpy owner snaps up Gourmet Burger

Wimpy owner Famous Brands has swallowed up high-end UK burger chain Gourmet Burger Kitchen as the fashion for street food in the UK shows no signs of slowing down.

South African firm Famous Brands signed a £120m deal to buy the chain from Nando’s owner Capricorn Ventures.

The firm, founded in 2001, was a “pioneer of the premium burger revolution”, Famous Brands said.

The company wants to open 10 to 15 more burger restaurants in the UK per year.

According to analysts Mintel, the premium burger market now accounts for sales worth more than £3bn a year.

The GBK brand is just one of a number of different chains in a highly competitive environment, as discerning consumers look for something more distinctive than the mass-market fast-food giants.

Other rival brands include Byron, Shake Shack and Five Guys.

Famous Brands plans to double GBK’s 75 UK stores in the next five years and said Brexit uncertainty would not affect its plans.

“The fast-casual premium environment is pretty recession-proof,” said Famous Brands’ Kevin Hedderwick.

BBC