Nono Group, which holds, among others, the chains Giraffe, Nono, Mimi, and Takaria, signed a deal to acquire 50% of the Tel Aviv burger brand GDB at an estimated valuation of approximately NIS 65 million.
The deal reflects the continuation of the group’s growth strategy through acquiring stakes in restaurant brands with expansion potential. The group notes that the focus is on brands with a clear culinary identity, loyal clientele, and the ability to scale in the local market and, later, in other arenas.
Nono Group is currently undergoing a broad strategic financial initiative, in which the investment arm of Bank Leumi, Leumi Partners, together with Mor Pension and Provident Fund, invested a total of NIS 130 million in the group. As part of this initiative, the Takaria chain was also acquired about a month ago in a cash deal valued at NIS 29 million.
GDB was founded approximately six years ago and is considered one of the prominent burger brands in Tel Aviv. The brand is the result of a collaboration between the premium butcher “George de Buff” and the We Like You Too group.
Today, GDB operates two branches in Tel Aviv (Ibn Gabirol and the northern part of the city), targeting an audience seeking a premium product and a relaxed dining experience.
Shagai Avaron, co-owner of GDB: "The GDBurger was born about six years ago from a combination of the expertise of the ‘George de Buff’ butcher and the spirit of the We Like You Too group. We believed that combining the highest-quality ingredients, steak cuts and burgers, with professional and unpretentious service at eye level, would succeed on the streets of Tel Aviv.
"As a group that has adopted collaborations as a central principle, we are pleased about the new connection with Nono Group. The partnership will allow us to implement new development options we had anticipated. Thanks to our employees, who continue to push us toward excellence every day—they are the force behind every dish that leaves the kitchen."