finnCap Cavendish advises on sale of Barburrito
finnCap Cavendish, the M&A advisory team at finnCap Group plc, is pleased to announce it has advised Barburrito, the 16 site national chain of award winning burrito bars, on its sale to The Restaurant Group plc (“TRG”).
Founded in 2005 by its CEO, Morgan Davies, Barburrito has grown to become the second largest burrito bar in the UK and has grown to 16 restaurants in nine cities across the country, and the market leader in the north, serving c. 40,000 customers per week.
The sale to TRG will enable the business to expand its footprint across the UK and strengthen its offering.
The deal was led by Henry Wells, head of consumer and Mark Stoddart, director.
Morgan Davies, founder of Barburrito, commented: “I am very proud of what we have achieved at Barburrito. We have gone from a simple idea to set up a cool restaurant selling freshly made burritos to being a sophisticated and professionally run hospitality business with multiple brands, operating in great locations and with fantastic teams across the UK.
It was really important for me to find a good home for Barburrito and I am personally delighted that TRG have chosen to take the brand forward now. They are a great operator, who we know well, with the firepower to really grow and develop Barburrito into a leading national brand. This transaction will allow the Barburrito business to move to the next stage of its growth within TRG’s strong brand and site portfolio.
I would personally like to thank all those involved with me in the Barburrito journey. I have met some fantastic people along the way, worked with brilliant suppliers, world-class colleagues from the sector and of course the Barburrito crew who I am very proud of.
I would also like to thank the team at finnCap Cavendish. They have done a great job in finding us the right buyer and running a smart and efficient process. Their support throughout has been excellent and combined with their commercial approach and sector knowledge, they have made great advisers for us.”
Henry Wells, head of consumer at finnCap Cavendish, commented: “We are delighted to have advised on this deal and to have found an excellent new owner in TRG for our client. There is nervousness about the outlook for the consumer at present but Morgan and Steve have developed a great business with a strong brand and the deal is testament to this. It has been great working with them and we look forward to observing the ongoing success of Barburrito as part of TRG.
This deal highlights our strength and track record in the restaurant sector as well as our ability to advise clients on sales mandates regardless of market conditions. I would like to thank the team at finnCap Cavendish for their hard work and commitment in achieving this result for our client.”