This article was produced by Olswang LLP, which joined CMS on 1 May 2017.
International TMT law firm Olswang has advised Calculus Capital, the Enterprise Investment Scheme (EIS) fund on its £2 million investment in Chop'd Limited, the salad bar chain.
Calculus Capital has acquired a 40% stake in the London-based Chop'd, which was set up by former Lloyds bank manager Eddie Holmes and gastropub owner Jasper Wight and operates seven sites and two concessions across the capital. The new cash injection will enable the group to open up to seven new sites on an expedited basis and will set the business on course to triple in size in the next five years.
Rick Jones, Investment Director at Calculus commented: "This is the second recent deal that we have done in the restaurant space and again, we felt comfortable using the leisure team at Olswang, who have become the go to team in the space. They know their stuff and get the job done with a minimum of fuss. It's a great comfort to know that we have Olswang on board."
Head of leisure and corporate partner David Roberts added: "On the back of its Benito's Hat deal, Calculus has proved a shrewd investor in the very exciting leisure space and we have high expectations that there is continued and sustained growth in the salad takeaway market in London and beyond. It is always great to work with Rick and Roshan from Calculus and a pleasure to play a small part in the process of them deploying very clever capital into the leisure industry."
Olswang were led by David Roberts with lead corporate associates Alice Hyde and assistance from Lydia Hutchinson (tax), Rachel Lafferty (employment), Andrew Quayle and Sean MacKenzie (pensions), Maria Demetriou (real estate) and Joel Vertes (IP).
