A Tel Aviv hamburger joint became Israel's latest exit after the Nono Group, which owns the Giraffe, Nono, Mimi, and Taqueria chains, acquired a 50% stake in the brand in a deal valued at NIS 65 million, Israeli media reported on Thursday.

The purchase of GDB, a hamburger chain established six years ago through a collaboration between the premium butcher shop George De Boeuf and the We Like You Too group, aims to continue Nono Group's expansion towards restaurants with a "clear culinary identity, a loyal audience, and the ability to scale in the local market," the group said.

"We believed that a combination of the highest quality raw materials, steaks and hamburgers, and professional and direct serving at eye level, would be successful on the Tel Aviv street," said partial owner of GDB Sagi Evron.

GDB, which stands for George's dry-aged burger, is based on the concept of hamburgers made with dry-aged, high-quality meat. It currently owns two locations in Tel Aviv: one on the northern side of the city and the other in Ibn Gvirol.

"As a group that has established collaboration as a central principle, we are happy about the new connection with the Nono Group. The connection will allow us to realize new development options that we have been waiting for," said Evron.

"This deal will allow us to complete a new development expansion that we have been planning for a long time."