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According to documents filed with the London Stock Exchange, Johnson acquired 1,400,000 shares in the national chain, which is positioned as the largest fast-casual Mexican restaurant brand in the United Kingdom.
The shares have a market value of £18.95m, with Johnson’s stake worth around £682,200. After the news came out, the stock price rose 16.67% yesterday (February 27).
Johnson’s Risk Capital Partners backs Brighton Pier Group, All Star Lanes, Lussmanns seafood restaurants and Curious Brewery, which recently acquired Wild Beer Co.
His investment firm has previously invested in Gail’s Bakery, Laine Pub Company and The Draft House.
In its latest market update in December, Tortilla said it expected revenue to grow 13.8% to £65.7 million in fiscal 2023, up 13.8% from the same period last year.
The group said year-on-year growth of +3.7% in 2023 was slightly below previous expectations as “low consumer confidence” affected demand across the dining out market, particularly in the fourth quarter.
last week was Announced that Tortilla CEO Richard Morris will step down at the end of next monthAfter working in the company for ten years.
He will be succeeded by Andy Naylor, who has worked with Morris for the past seven years, initially as chief financial officer before adding business development leadership responsibilities and most recently as UK managing director .
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