Temasek Buys Stake In 'Salt Bae'
What was once just a popular social media meme is now a serious business.
When we first saw 'Salt Bae's' salt throwing antics we thought it was just a passing Instagram fad, but as the months went by and the popularity in the steak haven grew, it became apparent this was no fly by night fad.
With the likes of Leonardo Dicaprio, Roger Federer and Tommy Hilfiger all dining in Nusret Gokce's restaurants, the brand expanded to include spots in the Middle East, New York and Miami. And now it seems that it's not just the celebrities who are taking notice but business minds, including Temasek, are sitting up and taking notice.
In a move announced yesterday, Singapore's Temasek and the UK's Metric Capital have bought a share of Nusr-Et steakhouse, under Dogus Restaurant Entertainment and Management (D.ream) in a deal that now makes the Turkish firm worth $1.2 Billion. Although very few details are known about the purchase, D.ream did reveal that their 17% stake was worth $200 Million.