Wimpy gets a taste for upmarket burger bars

The South African owner of Wimpy has gobbled up British burger chain Gourmet Burger Kitchen (GBK) for £120 million, pouring cold water on Brexit fears in the process.

Famous Brands, which bought Wimpy in 2007 and operates the business on a franchise model, said its acquisition of the upmarket burger bar was the “biggest deal the group has ever concluded”.

It added: “The low interest environment in the UK is supportive of continued consum- er spend, while the impact of fears of Brexit on this sector appear negligible – endorsed by a recent survey which confirms that despite the generally subdued economy, household spend in the eating out category is up 4 per cent yearon-year in June 2016.”

GBK, which operates 75 restaurants across the UK, including in Edinburgh and Glasgow, had been owned by private equity firm Capricorn Ventures, another South African vehicle, which is also the parent of Nando’s.