Salt Bae backers seek a partner and a $1bn valuation
INTERNATIONAL – The owners of the Nusr-Et steakhouse, known by its founder chef’s meme Salt Bae, are considering selling a stake in the business, according to people with knowledge of the plans.
Turkish billionaire Ferit Sahenk, and co-founders Nusret Gokce and Mithat Erdem, may sell a combined stake or an individual holding to one or a group of investors, the people said, asking not to be identified because the talks are private. There’s been strong interest from international investors and a financial adviser is assessing potential bids, they said.
The valuation of Nusr-Et as a standalone enterprise could reach $1 billion or more, according to two of the people familiar with the sales discussions. The company had earnings before interest, tax, depreciation and amortization of about $70 million this year, according to the people.
Source: iol.co.za