Indonesia-based Kebab Turki Baba Rafi (KTBR), which claims to be the world’s largest kebab chain, may be about to sell a major stakeholding.
Insiders say it has been talking to potential investors.
Owned by founders Nilam Sari and Hendy Setiono, the company has been valued as high as US$10 to 15 million. It started as a food cart in 2003 and today has more than 1000 outlets – not only in Indonesia but also in Bangladesh, Brunei Darussalam, China, Malaysia, Singapore, Sri Lanka, the Netherlands and the Philippines. It has a mix of company-run and franchised outlets.
As well as kebabs, KTBR also sells hamburgers, sandwiches, hot dogs, canai breads and frozen foods. KTBR is owned by Baba Rafi Enterprise, which also owns Bebek Garang, Piramizza and communications agency Voila! 360’.
While Baba Rafi is considering taking in partners, Indonesian street-food chain OTW is looking at completing its first series A funding soon. It aims to finalise an investor by the end of the third quarter to fuel expansion.
It has one company-run and nine franchisee outlets, and plans to increase the total to 30 outlets in the next two years. It is also considering international markets.
