Rarely does the arena of conservative upper crust folks in the Singapore government collide with the world of dank internet memes (there was the time when Prime Minister Lee Hsien Loong got into the ‘He Protec, He Atac’ jig), but here we are.
Together with London-based investment firm Metric Capital, sovereign wealth fund GIC and state-owned holding company Temasek are reportedly in talks over a potential purchase of D.ream Group, a subsidiary of Doğuş Group, Financial Times reported.
Doğuş Group — one of the largest private-sector conglomerates in Turkey — owns a brigade of high-end restaurants that includes the likes of the Nusr-Et Steakhouse and Nusr-Et Burger chains. If those eateries sound familiar, it’s because they’re owned by none other than Salt Bae, the Turkish butcher and chef who became a global social media phenomenon thanks to his iconic way of sprinkling salt over meat.
According to FT, the trio of investors are close to buying a minority stake in the group of restaurants, with a valuation of about US$1.5 billion. A source familiar with the possible deal noted that the key rationale for the transaction was that the restaurants — including Salt Bae’s — are seen as luxury chains on the same level as brands like Gucci.
Not a surprising perspective, considering that Salt Bae (real name Nusret Gökçe) has become a celebrity darling — the chef has personally blessed the steaks of Michael Phelps, Leonardo DiCaprio, Tommy Hilfiger, and more since he became an internet sensation. The likes of Ben Affleck and Rihanna have been spotted donning t-shirts with Salt Bae on ’em as well.
But putting aside the man’s overwhelming popularity, do the restaurants owned by Salt Bae actually serve good food?
According to TripAdvisor appraisals of its flagship restaurant in Istanbul, Nusr-Et receives pretty decent reviews, despite its long waiting lists. But reviews of Nusr-Et’s recently opened New York outpost have been absolutely salty, with complaints about rubbery, bland steaks, overcooked burgers, terrible cocktails, and most of all, absurdly expensive price tags.
Still, GIC and Temasek surely know that patrons would flock to Nusr-Et nonetheless because nothing beats a social media post about your steak being blessed by Salt Bae.
