International law firm CMS has advised long-term restaurant client Tortilla Mexican Grill Plc (Tortilla), on the acquisition of all the issued shares of Chilango Limited (Chilango) for a total of £2.75m frominvestment firm RDCP Group Limited. Chilango has eight existing restaurants in London, which offer both eat-in and take away options, as well as through its delivery channel supported by delivery kitchens.
Tortilla is the largest and most successful fast-casual Mexican restaurant group in the UK. In October 2021, the group completed its successful listing and admission to trading on the AIM market of the London Stock Exchange, for which CMS also advised Tortilla on. This latest transaction cements Tortilla’s market-leading position and accelerates its national expansion plans.
Andy Naylor, CFO & Commercial Director at Tortilla, comments: “The company hasn’t done many M&A deals and thus it was a great comfort to have the experience of David Roberts and his CMS team on board following them playing a key role on our recent IPO. They guided us through the process from the start to finish which led to a very successful completion.”
CMS Partner and Head of Leisure, David Roberts, led a multi-disciplinary CMS team, comprising Lead Associate Hannah Forsyth and Bronagh Miller (Corporate); Mark Joscelyne (Tax); Joel Vertes (IP); Julian Turner (Restructuring & Insolvency); Bruce Gavin (Finance); Jaimé Douglas-Home and Sarah Macdonald (Employment); and Laura Longman (Real Estate).
David Roberts comments: “It was great to work again with the Tortilla team on this exciting acquisition which leads to further consolidation in the Mexican casual dining market. This will be a nice extension to Tortilla’s London offering and shows how their impressive board is open to opportunities.”
