Tortilla Mexican Grill Ltd. (GB:MEX) has released an update.
Tortilla Mexican Grill PLC announces the strategic purchase of Fresh Burritos, its largest European competitor and France’s top fast-casual Mexican restaurant group, for €3.95 million, aiming to enhance its ‘Vital Five’ growth strategy and expand its franchise network across Europe. The deal includes 13 company-owned restaurants, rights to 19 franchised locations, and is expected to significantly boost Tortilla’s annual earnings following the introduction of a French Central Production Kitchen and other operational efficiencies. With an experienced European management team in place, Tortilla is poised to capitalize on the growing European appetite for Mexican cuisine and sees this acquisition as a key step in their international development.
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