Latest news with #HeroBrands
The National
12-05-2025
- Business
- The National
Anas Sarwar's brother 'to make millions' from Kebab chain deal
Athif Sarwar is understood to have secured a deal worth upwards of £50 million between German Doner Kebab (GDK) and investment firm True, according to the Sunday Mail. The Glasgow-based chain is owned by Hero Brands, in which Sarwar, 46, has more than 75 per cent of the shareholdings. READ MORE: Is time running out for Anas Sarwar to stand against Keir Starmer? The firm has previously come under fire for advertising jobs paying below the legal minimum wage, later claiming the job adverts were 'outdated' and posted in 'error'. We exclusively revealed how GDK advertised dozens of jobs at below the National Living Wage of £11.44 per hour, which is the minimum for those aged 21 and over. Last year, Anas Sarwar was forced to deny United Wholesale, a family firm, had failed to pay the Real Living Wage. GDK had 170 global locations, and 145 in the UK. The Scottish Labour leader, 42, is not involved in GDK or any family businesses. Scottish Conservative MSP Annie Wells told the newspaper: 'It's pretty embarrassing for Anas Sarwar that while he preaches about the living wage, his own brother has seemingly amassed a fortune while ignoring it.' (Image: Jane Barlow/PA Wire) Simon Wallis, GDK chief executive, confirmed the investment deal with London-based True. 'At GDK, we are inspired by our purpose to elevate the kebab-eating experience and it's great to be working alongside a partner that shares the vision of dominating the kebab category across the world and in every neighbourhood we operate in,' he said. Athif Sarwar, executive chairman of Hero Brands, said: 'The GDK movement has been blessed with monumental growth. READ MORE: Greens leadership hopeful says 'soundbitey' nature of FMQs must end 'We have built an incredible team at GDK focused on delivering for our partners, franchisees and guests, and we are looking forward to the next phase of the GDK journey with True.' The size of the investment was not confirmed, but GDK said it was investing from a fund 'committing £10-100million of equity to the future of retail and consumer sectors'. The fast-food chain has nine Scottish restaurants, including in Glasgow, Stirling, Edinburgh, Aberdeen, Dundee and Hamilton.
The National
11-05-2025
- Business
- The National
Scottish Labour leader's brother 'to make millions' from Kebab chain deal
Athif Sarwar is understood to have secured a deal worth upwards of £50 million between German Doner Kebab (GDK) and investment firm True, according to the Sunday Mail. The Glasgow-based chain is owned by Hero Brands, in which Sarwar, 46, has more than 75 per cent of the shareholdings. READ MORE: Is time running out for Anas Sarwar to stand against Keir Starmer? The firm has previously come under fire for advertising jobs paying below the legal minimum wage, later claiming the job adverts were 'outdated' and posted in 'error'. We exclusively revealed how GDK advertised dozens of jobs at below the National Living Wage of £11.44 per hour, which is the minimum for those aged 21 and over. Last year, Anas Sarwar was forced to deny United Wholesale, a family firm, had failed to pay the Real Living Wage. GDK had 170 global locations, and 145 in the UK. The Scottish Labour leader, 42, is not involved in GDK or any family businesses. Scottish Conservative MSP Annie Wells told the newspaper: 'It's pretty embarrassing for Anas Sarwar that while he preaches about the living wage, his own brother has seemingly amassed a fortune while ignoring it.' (Image: Jane Barlow/PA Wire) Simon Wallis, GDK chief executive, confirmed the investment deal with London-based True. 'At GDK, we are inspired by our purpose to elevate the kebab-eating experience and it's great to be working alongside a partner that shares the vision of dominating the kebab category across the world and in every neighbourhood we operate in,' he said. Sarwar, executive chairman of Hero Brands, said: 'The GDK movement has been blessed with monumental growth. READ MORE: Greens leadership hopeful says 'soundbitey' nature of FMQs must end 'We have built an incredible team at GDK focused on delivering for our partners, franchisees and guests, and we are looking forward to the next phase of the GDK journey with True.' The size of the investment was not confirmed, but GDK said it was investing from a fund 'committing £10-100million of equity to the future of retail and consumer sectors'. The fast-food chain has nine Scottish restaurants, including in Glasgow, Stirling, Edinburgh, Aberdeen, Dundee and Hamilton.
Daily Record
11-05-2025
- Business
- Daily Record
Scottish Labour leader's brother set to make millions after fast food chain deal
The deal between Glasgow-based German Doner Kebab (GDK) and London investment firm True is said to be worth upwards of £50million. The brother of Scottish Labour leader Anas Sarwar has sold a multi-million pound stake in his booming global fast food chain. The deal between Glasgow-based German Doner Kebab (GDK) and London investment firm True is said to be worth upwards of £50million. It comes weeks after the chain, owned by Hero Brands in which Athif Sarwar has a shareholding of more than 75 percent, came under fire for advertising roles paying below the legal minimum wage. Workers aged 21 and over must be paid the National Living Wage, which was £11.44 per hour at the time of the furore in March and has since gone up to £12.21. The firm responded by saying it is a 'proud living wage employer' and the job adverts in question were 'outdated' and posted in 'error.' Last year, Anas Sarwar was forced to deny family firm United Wholesale also previously failed to pay the non-legally binding Real Living Wage. GDK, which has over 145 UK locations and 170 globally – including in the US, Canada, Sweden and the Middle East – is part of the Hero Brands group of companies based in East Kilbride. Athif, 46, is listed at Companies House as a director of Hero Brands, with a shareholding of more than 75 bought GDK in 2017 after eating one of its kebabs while on holiday in Dubai. Scottish Conservative MSP Annie Wells said: 'It's pretty embarrassing for Anas Sarwar that while he preaches about the living wage, his own brother has seemingly amassed a fortune while ignoring it.' Anas, 42, who became Scottish Labour leader in 2021 is not involved in GDK or any of the family businesses. GDK's chief executive Simon Wallis confirmed the investment deal with True. He said: 'At GDK, we are inspired by our purpose to elevate the kebab -eating experience and it's great to be working alongside a partner that shares the vision of dominating the kebab category across the world and in every neighbourhood we operate in.' Athif, executive chairman of Hero Brands, said: 'The GDK movement has been blessed with monumental growth. We have built an incredible team at GDK focused on delivering for our partners, franchisees and guests, and we are looking forward to the next phase of the GDK journey with True.' GDK would not confirm the size of True's cash injection but did reveal it was investing from a fund 'committing £10-100million of equity to the future of retail and consumer sectors'. GDK made headlines last year after launching a gut-busting breakfast roll stuffed with doner meat, eggs, onions and tomatoes. The Sarwars are the sons of former Labour Party MP Mohammed, who founded cash and carry operator United Wholesale (Scotland) in 1982. Their other brother Asim, 43, runs the United Wholesale operation in Glasgow, where he is a and his mum are the main shareholders. GDK, founded in 2014, has become one of the fastest-growing fast food operations in Britain in the last eight years. It has nine restaurants in Scotland – in Glasgow, Edinburgh, Stirling, Dundee, Hamilton and Aberdeen. A 10th site is due to open by June and an 11th is in the pipeline for later this year. All of Hero Brands' outlets including GDK are owned by franchisees. Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'.
Yahoo
16-04-2025
- Business
- Yahoo
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. True Capital declined to comment, while Hero Brands has been contacted for comment and a spokesperson for GDK could not be reached.
Sky News
16-04-2025
- Business
- Sky News
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.
