Mexican-inspired restaurant group Wahaca has been acquired by Risk Capital, a private equity firm co-founded by entrepreneur and restaurateur Luke Johnson, in a deal that looks to fund the next stage of the brand’s expansion.
Earlier this year, Wahaca, which operates 14 restaurants across the UK, announced it was seeking a new strategic partner to boost its growth plans. The brand appointed advisory firm BDO to assist with the process, with Risk Capital having now been identified as that partner.
Wahaca had previously been supported by Yellowwoods, the private investment group behind Nando’s.
“I’m genuinely excited to be working with Luke and the Risk Capital team,” said Wahaca CEO Gemma Glasson. “He understands hospitality better than almost anyone in the UK, and having that experience and drive behind us as we continue to grow is exactly what this business needs right now.”
Johnson added: “Wahaca is a brand I’ve long admired – brilliant food, real culture, and a team that’s clearly hit its stride. I’m looking forward to working closely with Gemma and the team to build on the momentum they’ve created.”
Risk Capital, which has a portfolio that includes Gail’s Bakery, was founded in 2001 by Johnson, who has previously held several high-profile roles in the hospitality sector including as chairman of Pizza Express and executive chairman of Patisserie Valerie.
Johnson is also the founder and former chairman of Signature Restaurants, a hospitality group which was known for owning and operating luxury London venues including The Ivy, Le Caprice and J Sheekey, before it was sold to restauranteur Richard Caring in 2005.
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