Gimv: acquires stake in Belgian premium burger chain
(CercleFinance.com) - Belgian investment firm Gimv and partner Top Brands have acquired a majority stake in fast-growing premium hamburger chain Ellis Gourmet Burger, the two companies said on Friday.
The aim is to further expand the business in Belgium, the Netherlands and France, backed by a strong brand concept, Gimv and Top Brands said.
Co-founder and CEO Thierry Canetta will continue in his role as CEO, keeping a minority stake in the company.
Ellis - which has 25 restaurants in Belgium, the Netherlands and France - generated revenues of 24 million euros last year, and has a workforce of 270 employees.
Top Brands owns the master franchise for Pizza Hut and Boulangerie Paul in Belgium.
The terms of the deal have not been disclosed.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The aim is to further expand the business in Belgium, the Netherlands and France, backed by a strong brand concept, Gimv and Top Brands said.
Co-founder and CEO Thierry Canetta will continue in his role as CEO, keeping a minority stake in the company.
Ellis - which has 25 restaurants in Belgium, the Netherlands and France - generated revenues of 24 million euros last year, and has a workforce of 270 employees.
Top Brands owns the master franchise for Pizza Hut and Boulangerie Paul in Belgium.
The terms of the deal have not been disclosed.
Copyright (c) 2018 CercleFinance.com. All rights reserved.