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Sun 14 Apr 2019 10:45 AM

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Dubai F&B group acquires DIFC branch of struggling Gaucho brand

Addmind will invest $3m in rebranding the Argentinian-themed restaurant

Dubai F&B group acquires DIFC branch of struggling Gaucho brand

Dubai-based Addmind Hospitality Group has acquired Argentinian-themed restaurant Gaucho in DIFC for an undisclosed sum and will entirely change the Gaucho brand in the near future, according to group CEO Tony Habre.

Addmind runs about a dozen brands in Dubai and Beirut, including White nightclub and Iris Lounge. 

Gaucho is located underneath Addmind’s restaurant and lounge concept Indie. It opened in Dubai in 2011 and was part of the UK-based Gaucho Group, filed for bankruptcy last year before its lenders Investec Bank and debt specialist SC Lowy, who were owed £50m by Gaucho’s parent company Gioma, said they would buy the business via a credit bid.

However, the group said last year that the Dubai venue was unaffected by the administration of the UK business as it does not come under the same legal structure.

Speaking to Arabian Business, Habre said he will spend between $2-$3 million to refurbish and rebrand the concept.

“With time, we will change the Gaucho name, but not directly. The whole brand will be changed…We’ve already started the changes, [but] we’re going to do a huge refurbishment for the whole place later,” he said.

For now, Habre said the changes will apply to the menu, which will no longer be limited to Argentinian meat, but different kinds of meat and vegetarian dishes.

“The whole menu is changing. And we’re going to change a bit in the design, the furniture, the setting of the place, not a lot, just a little, and put some Addmind touch into it,” he said.

“So it’s going to take time to rebuild the concept…We’re going to change the brand and everything,” he added.

Habre said the new concept will be “entirely new” and will not fall under any of the group’s existing brands.

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