Guzman y Gomez backer unloads a$89.5M in shares

• TDM Growth Partners sold $89.5 million worth of shares in Guzman y Gomez via a block trade handled by Jarden.
• The block trade was priced at $25.55 per share, representing a 4.3% discount to the previous close.
• TDM Growth Partners stated that it intends to remain a significant shareholder in the business for many years to come.

Early backer TDM Growth Partners sold $89.5 million worth of shares in fast food operator Guzman y Gomez (ASX:GYG) through an institutional block trade handled by Jarden before the market opened.

The transaction occurred just one week after Guzman y Gomez chairman Guy Russo offloaded $35 million of his own shares in the Mexican-themed restaurant chain.

"We remain highly attracted to GYG’s world-class economics and compelling growth trajectory, and we intend to remain a significant shareholder of the business for many years to come," TDM said in a statement.

Following the block trade, TDM retains approximately 14 million shares in Guzman y Gomez, which translates to a 14% stake in the company.

Following the announcement the Guzman y Gomez share price was down at $26.26.

The share sale marks the largest block trade for Guzman y Gomez since the company listed on the Australian Securities Exchange in June 2024.

Prior to this transaction, TDM previously offloaded $80 million worth of shares via Morgan Stanley in April of the previous year.