Tortilla has bought Mexican food chain Chilango from investment firm RDCP Group in a deal worth up to £2.75 million.
Chilango currently has eight existing restaurants in London as well as operating its delivery kitchens.
Andy Naylor, CFO & commercial director at Tortilla, commented: “The company hasn’t done many M&A deals and therefore 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, added: “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.”
In October 2021, Tortilla completed its successful listing and admission to trading on the AIM market of the London Stock Exchange, for which CMS also advised the restaurant group on. This latest transaction cements Tortilla’s market-leading position and accelerates its national expansion plans.