Private equity investor Calculus Capital has made a significant investment in Benito’s Hat.
The deal represents the first investment in the restaurant sector for Calculus.
Benito’s Hat, a Mexican-themed fast casual restaurant business with four sites in central London, was named after extravagant Mexican president Benito Juárez. Founder Ben Fordham opened Benito’s first site on Goodge Street in London in 2008 with a little help from friends and family. Since then three more sites have been opened in Covent Garden, Oxford Circus and, most recently, King’s Cross. The investment by Calculus will help facilitate the roll-out of more restaurants over the next few years.
Fordham will continue to be involved in the business and the management team is being enhanced with the appointment of Graham Ford, previously operations director at Italian restaurant chain Strada, and Jay Travis, the previous operations director of wagamama, who will be joining the board as chairman.
Rick Jones of Caluclus says: “We are delighted to be backing this fantastic business whose founders have created a restaurant brand centred on high-quality and authenticity, at an affordable price point. We are confident that demand will continue to increase in this sector and with the strengthened team and our investment, Benito’s Hat will be able reach out to new customers through new openings across London and the UK.”
Fordham says: “We are very excited to announce our investment from Calculus Capital, which allows us to accelerate the roll-out of Benito’s Hat. It is a testament to the team’s commitment to deliver exciting, fresh food and drink with passion and character, that has enabled us to step up our growth.”
