Calculus Capital bites into Benito's Hat with investment deal

Mexican fast food group Benito's Hat has announced expansion plans funded by a new investment deal with Calculus Capital.

The UK-based private equity investor has committed £1.4m to help take the casual dining brand from four to 10 sites by the end of 2014.

Benito's Hat co-founder Ben Fordham said: "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."

As part of the expansion programme Jay Travis, previously operations and development director of Wagamama, has been appointed as chairman while Graham Ford, previously of Strada, has been named the company's new chief executive.

Benito's Hat's original founders remain involved in the business and will be part of the new-look board. Ben Fordham is set to focus on new site acquisition and growth as well as day to day operations, while executive chef Felipe Fuentes Cruz will focus on menu development.

Rick Jones, investment director at Calculus Capital, who has also committed further funds to support the roll out plans, added: "We are delighted to be backing this fantastic business. 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 to reach out to new customers through new openings across London and the UK."