LONDON: Investment firm True is in advanced discussions to acquire a major stake in German Doner Kebab (GDK), according to Sky News.
GDK, led by Chief Executive Simon Wallis, is currently part of Hero Brands, a Glasgow-based incubator specializing in food and beverage concepts. While details of the potential deal remain undisclosed, several other bidders were reportedly engaged in discussions with Hero Brands earlier in the process.
Bankers at Cavendish have been overseeing the negotiations, according to a party that considered investing in the business.
The news coincides with GDK’s expansion efforts, as the company prepares to open two new locations in the United Kingdom, one in Norwich and another in Bluewater Shopping Centre. The Norwich site marks GDK’s fourth opening of the year and its 147th UK location to date. The Bluewater site is part of the company’s broader growth strategy for 2025.
Each of the new openings is expected to generate 40 jobs while introducing GDK’s new menu to more customers.
Representatives for True Capital and Hero Brands have been contacted for comment.