German Doner Kebab eyes stake sale to private equity firm True
A serial investor in consumer and retail businesses is in talks to buy a big stake in the German Doner Kebab (GDK) chain as it seeks to promote itself as a day-round destination for hungry diners.
Sky News has learnt that True, which has backed companies including the energy drinks manufacturer Sneak and Ray Studios, a tattoo removal specialist, is proposing to make the investment at what casual dining industry sources described as a "stellar valuation".
GDK is currently part of Hero Brands, a Glasgow-based incubator of food and beverage concepts.
The chain, which is run by chief executive Simon Wallis, will open its 150th UK outlet next month as it seeks to capitalise on a surge in demand.
GDK has embarked on a marketing campaign with the slogan 'Doners worthy of the daylight' in recent months as it tries to dispel the notion that doner kebabs are primarily a food choice for inebriated late-night consumers.
In recent media interviews, Mr Wallis has remarked on the challenge associated with changing that perception.
"Essentially, the great British public have got this association [with kebabs] that you only ever eat them at about 2.30am," he told MailOnline last month.
He added that just 4% of its sales were generated after 11pm.
GDK operates a franchise model, and is said to have much more ambitious expansion plans in gestation.
Further details of the proposed transaction between True and Hero Brands were unclear on Wednesday.
A number of other bidders are said to have held talks with Hero Brands earlier in the process, with one party which looked at making an investment in the business saying that bankers at Cavendish had been orchestrating the process.
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