Chilango

Background and contacts

About Chilango

Mucho Mas Ltd, trading as Chilango, was established in 2005 by two former Skype employees – Eric Partaker and Dan Houghton – who shared a mutual passion for Mexican food. Finding good Mexican food hard to come by, they quit their jobs with Skype, making it their mission to bring the “stampede of flavours” they had both come to love, to the UK. Chilango opened its first restaurant on Upper Street in Islington, North London in 2007. Today, the popular restaurant chain boasts 11 restaurants across the UK, each profitable with positive like-for-like sales across the group, and 140employees. The Company has won countless awards. Voted No.1 Mexican Restaurant in London by Zagat, Chilango was awarded London’s Best Burritos by Time Out and Harden’s Survey, Top 10 Healthiest High Street Chains by Men’s Health, and ranked 4 in Condé Nast Traveller’s Best New Chain Restaurants Around the World.

About The Digital Newsroom

The Chilango Digital Newsroom is a simple and useful resource for you to keep track of all the latest news stories. High resolution images and complete press releases are available to download from here, and you can connect with our various social media profiles easily. Suggestions for improvements are welcome.

Contact Details

Julian Obubo & Elsa Druiett
Manifest
t. +44 (0)203 1379 270
e. chilango@manifest.london

Chilango

Chilango invites investors to spice-up their portfolio with ‘Burrito Bond 2’

Mexican quick-service chain, Chilango, has announced the launch of the Burrito Bond 2TM, its second bond offering, which will earn investors a gross interest of 8% per annum over four years.

The award-winning chain is offering a bond for the second time after doubling its £1m Crowdcube campaign target in 2014, closing at just over £2m.

This time around, the restaurant chain has ambitions to hit an investment of £1m once again. Investors in Burrito Bond 2TM will receive a gross interest of 8% per annum with the option to have their principal redeemed in full at the end of the 4-year term.

Over 700 investors, including high-profile executives from several of the world’s top food brands, backed the last unlisted corporate bond – the first in the world to be launched this way – to fund the company’s expansion into three new London restaurants. This time around several high-profile executives have invested once again including the former CEO of Domino’s Pizza UK, the former MD of Itsu, and the former VP of Marketing for McDonald’s UK.

Burrito Bond 2 investors will support the chain’s continued growth with its Birmingham restaurant to open within the next few months, followed by additional sites planned in London.

Invest and reap rewards

  • Bondholders will also enjoy a range of benefits beginning at the minimum investment of £500
  • Every investor will receive a voucher for two free burritos and a £10 promo code for a free burrito delivered via Uber Eats.
  • Those investing £1,500 will receive a Chilango Gift Card loaded with 5 delicious meals and those investing £2,500 a Gift Card loaded with 10 delicious meals.
  • For all investments of £5,000 or higher Uber Eats will offer free delivery (i.e. delivery fee will be waived) of unlimited Chilango orders for the lifetime of the bond.
  • Those investing between £5,000 and £10,000 will also qualify for the ‘Chilango Green Card’, entitling them to a free guacamole on one meal per transaction during the lifetime of the Bond
  • Those investing £10,000 or more – 100 investors did just that four years ago – will also qualify for the ‘Chilango Black Card’, entitling them to a free burrito every week for the lifetime of the Bond
  • Burrito Bond 2 will also debut a completely new referral program meant to inject some vibrancy into people’s lives, including rewards such as a private flavour event with the former Senior Development Chef of the Fat Duck, an all-expense paid trip to Day of the Dead in Mexico, and Spanish language instruction from some of the world’s most accomplished language instructors and an array of thrill-seeking activities such as skydiving, motor-racing, speed-boating, abseiling, bungee jumping, and ice climbing

Founded in 2007 by two former Skype colleagues, Eric Partaker and Dan Houghton, Chilango’s estate currently includes 11 restaurants based out of London and most recently, Manchester. On a mission to make the world a more vibrant place, Chilango adds flavour to people’s lives, serving fresh, bold and creative Mexican meals to over 25,000 hungry customers every-day.

Attractive business outlook

Commenting on the launch of Burrito Bond 2, Eric Partaker, Co-CEO and Co-Founder of Chilango said:

“While many casual dining chains have experienced difficult times as of late, Chilango’s quick-service concept is posting its best results ever in its 11-year history, with positive LFL sales of 5.3% and all its restaurants profitable. The UK is riding a Mexican wave and Chilango looks forward to welcoming another round of Investors and brand evangelists into the family.”

Boasting an 11-year operating history, Chilango recorded sales of £10.2 million in sales and £1.7m in restaurant EBITDA (earnings before interest, tax, depreciation and amortisation) last year – with forecast restaurant EBITDA of £2.1m and nearly £11m in sales in the current financial year.  It will open the doors on its Birmingham restaurant within the next few months, with plans to add further restaurants to its already strong and profitable base (at an approximate cash outlay of £500,000 for each restaurant).

Vibrant, fresh thinking

Chilango is well-established in London and Partaker believes the time is right to build out Chilango’s regional presence in both the capital and the regions.  The chain has been funded by its guests from day one and Partaker – the archetypal brand evangelist – is keen that they should participate in its next phase of growth.

Chilango is marketing the Burrito Bond 2 via a dedicated website: www.chilango.co.uk/burritobond

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