Johnson, a serial investor whose private equity firm Risk Capital Partners has previously backed hospitality businesses including Bread Holdings – owner of Gail’s, The Laine Pub Company, The Draft House and Small Batch Coffee, was named as the frontrunner for the business, which currently operates 14 sites across the UK.
Speaking about the deal, Wahaca CEO Gemma Glasson says she is excited to be working with Luke and the Risk Capital Partners team.
“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,” she says.
Wahaca announced in March that it was working with advisory firm BDO to identify a new strategic partner to inject fresh capital into the business and to support the next stage of its expansion.
“Wahaca is a brand I’ve long admired – brilliant food, real culture, and a team that’s clearly hit its stride,” says Johnson. “I’m looking forward to working closely with Gemma and the team to build on the momentum they’ve created.”
The group, which was founded by Thomasina Miers and Mark Selby in 2007, had experienced a challenging few years post Covid that saw it consolidate. However, it returned to expansion in 2024 with the opening of a site in London Paddington, its first new opening in six years.
In March it appointed leasing agency PThree to accelerate its expansion, and has previously said that it was now actively targeting cities, including Cambridge, Manchester, Glasgow and Birmingham for new restaurants as well as more in the capital in areas such as Marylebone, Baker Street, Victoria, London Bridge and King’s Cross.
Wahaca has, to date, been backed by Yellowwoods – the investment vehicle behind Nando’s – which took a majority stake following a £4m investment in November 2020.
“We’re hugely grateful to Yellowwoods for everything they’ve done to get us here, and excited for what comes next with Luke on board,” says Selby.