The FINANCIAL — Mexican casual-dining chain Tortilla has raised £3.5m from private-equity investors, as it revealed it was to open its eighth site in London, with a ninth in the pipeline.
Tortilla raised £3.5m from Quilvest, which will be used to grow the team and expand the London-based chain. Quilvest has previously backed firms such as Yo! Sushi, and Tortilla predicted its involvement would result in substantial growth over the next five years.
As part of the deal, Quilvest partner Axelle Strain will join the board of directors, while Paul Campbell, formerly chief executive of Clapham House, whose Hill Capital Partners fund remains an investor in Tortilla, is a non-executive director.
The news came as Tortilla founder and managing director Brandon Stephens announced that the company had signed a deal for a location in Wimbledon, set to be the group's eighth opening in the capital, and has entered into legal discussions for a ninth site. The first Tortilla restaurant opened in Islington in October 2007 followed a year later by the Southwark site. There are now Tortilla restaurants at Canary Wharf, Oxford Circus and Leadenhall Market.
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