The investment companies Gimv and Top Brands, the latter owning the franchise Pizza Hut and Boulangerie Paul in Belgium, have together taken a majority shareholding in Ellis Gourmet Burger. The company being purchased is a [premium] “expanding” burger chain.
Ellis Gourmet Burger currently has 25 outlets in Belgium, the Netherlands and in France. The brand employs 270 staff and produced a turnover of €24 million in 2017. Ellis is nurturing expansion ambitions, as much in Belgium as abroad.
Thierry Canetta, the CEO, is delighted saying, “The collaboration will provide Ellis Gourmet Burger with the opportunity to pursue its quest for the perfect burger with even more passion. The expertise of Top Brands in concept deployment, linked to the strategic vision of Gimv, will strengthen the Ellis Gourmet Burger brand and will thereby produce a genuine export product.”
The deal, including financial details which have not been communicated, needs to obtain prior approval of the Belgian Competition Authority before proceeding.