TLT has advised Manchester-headquartered burrito bar Barburrito on the share acquisition of Pinto Restaurants (Holdings) Limited, which has five Mexican restaurants in Edinburgh and Glasgow. This brings Barburrito’s portfolio from 12 to 17 UK restaurants.
TLT also advised Barburrito and its management team in relation to the Business Growth Fund’s further investment in the company. To date, the Fund has provided Barburrito with a total investment of £11.35m since March 2012. The newly acquired business will continue to operate under the Pinto brand but will be rebranded to fit in with the new-look Barburrito brand over the next six months.
The cross-jurisdictional TLT team included corporate partner Jon Close; corporate associate, Kelly Harvey; corporate solicitor, Nicola Bilner; real estate partner, Brian Armour; real estate solicitor, Fiona Bell; and tax solicitor, Natalie Stoter.
TLT's Jon Close said: "This was an exciting deal to work on as it marks a significant step for our client in realising its ambitious growth plans. For the first time they will have a presence in Scotland, a key target market and we are delighted to have helped Barburrito expand its geographical footprint further."
Morgan Davies, CEO at Barburrito said: "We are delighted to complete on the acquisition of Pinto Mexican Restaurants. This is a key strategic move for the business and enables us to accelerate our expansion plans. The TLT team have provided a top class service throughout the process and have been key to getting the deal over the line."