Belgian hamburger restaurant chain Ellis Gourmet Burger wants to expand into new countries, following Belgium, the Netherlands and France. That is why it seeks an investor to help finance that expansion, which may lead to a new majority shareholder.
Founders will stay
Ellis Gourmet Burger currently has 23 restaurants, 13 of those in Belgium. Seven are in the Netherlands and three in Paris, with additional restaurants planned in Amsterdam and Aalst.
The hamburger chain is now targeting German-speaking countries, but needs additional funds to enable that expansion. That is why it has enlisted ING Belgium to find an investor, but De Tijd says the bank will only return with names sometime in next year’s second quarter.
It depends on the investor how many shares he or she will obtain. Some may prefer a position of minority shareholder, but Ellis Gourmet Burger may just as well get a new majority shareholder.
Founders Thierry Canetta and Amaury Hendrickx currently each have 50 % of shares and both will definitely stay on, even with the new investor on board. Canetta previously stated he targeted thirty restaurants in Belgium and that he sees opportunities in France, Luxembourg, Germany, Austria and Switzerland.