Singapore’s Temasek And GIC Close To Acquiring A Chunk Of Salt Bae Steakhouse
Consortium Of Investors Close To Taking Stake In Upmarket Group
High-end restaurant chain Nusr-Et Steakhouse founded by the infamous Nusret Gokce, also known as “Salt Bae”, could soon come under the ownership of a consortium of investors that include Singapore’s Temasek and GIC, according to the Financial Times.
Temasek, GIC and London-based Metric Capital are in the midst of negotiations to acquire D.ream Group, a subsidiary of Dogus Group, which owns the restaurant chain. The deal, according to sources quoted by the Financial Times, would include about $200 million of equity. Should the deal go ahead, the investment group will buy in to a total of 45 brands, 170 restaurants and one extremely popular internet personality.
The steakhouse chain shot to fame after Nusret put up a 36-second Instagram video of him slicing and salting a piece of steak in style. With that one video, Nusret Gokce became am overnight Internet sensation and rose to the status of a celebrity chef. Having worked as an apprentice at a local butcher shop in Turkey from the age of 13, Nusret is now known the world over for the finesse in his steak preparation.
Riding on the wave of viral success, the steakhouse has since expanded to 13 cities all around the world, from Miami and Manhattan to Dubai and Abu Dhabi.
If there ever was an example of the power of social media in making a brand, this is it.