Tortilla Mexican Grill (MEX)

Sector:

Tourism and Leisure Services

Index:

FTSE AIM All-Share

50.50p
   
  • Change Today:
    -2.50p
  • 52 Week High: 66.00
  • 52 Week Low: 38.00
  • Currency: UK Pounds
  • Shares Issued: 38.66m
  • Volume: 9,925
  • Market Cap: £19.53m

Tortilla Mexican Grill buys Fresh Burritos for €3.95m

By Michele Maatouk

Date: Tuesday 25 Jun 2024

LONDON (ShareCast) - (Sharecast News) - Tortilla Mexican Grill said on Tuesday that it has bought Fresh Burritos, the second largest fast-casual Mexican restaurant group in Europe, and largest in France, €3.95m (£3.3m).
It said the deal is the latest step forward in its 'Vital Five' growth strategy, of which key pillars are to develop the brand internationally and double-down on franchise.

The acquisition includes 13 company-owned leasehold restaurants in Paris and other major French cities, and rights to the Fresh Burritos brand and network of 19 franchised locations

Chief executive Andy Naylor said: "Tortilla's international ambitions are no secret, and acquiring Fresh Burritos is our gateway to mainland Europe. With Mexican cuisine surging in popularity, these prime French locations give us a solid launchpad. We're set to leverage this acquisition, just in time for the Paris Olympics!

"We've assembled a top-tier European team, with Francesca and Gilles at the helm, to navigate this new market. The brand synergies are clear, a new central kitchen is in the works, and our dedicated team is raring to go. We're primed for sustainable growth abroad!"

In the year to 31 December 2023, Fresh Burritos delivered revenue of €9m and a loss before tax of €0.1m.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

MEX Market Data

Currency UK Pounds
Share Price 50.50p
Change Today -2.50p
% Change -4.72 %
52 Week High 66.00
52 Week Low 38.00
Volume 9,925
Shares Issued 38.66m
Market Cap £19.53m

MEX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
27.22% below the market average27.22% below the market average27.22% below the market average27.22% below the market average27.22% below the market average
36% below the sector average36% below the sector average36% below the sector average36% below the sector average36% below the sector average
Price Trend
43.52% below the market average43.52% below the market average43.52% below the market average43.52% below the market average43.52% below the market average
58.49% below the sector average58.49% below the sector average58.49% below the sector average58.49% below the sector average58.49% below the sector average
Income Not Available
Growth
26.08% above the market average26.08% above the market average26.08% above the market average26.08% above the market average26.08% above the market average
26.53% below the sector average26.53% below the sector average26.53% below the sector average26.53% below the sector average26.53% below the sector average

MEX Dividends

No dividends found

Trades for 07-Oct-2024

Time Volume / Share Price
13:21 5 @ 52.00p
13:21 5 @ 52.00p
11:56 2,037 @ 49.35p
11:57 2,037 @ 49.35p
11:41 3,902 @ 50.12p

MEX Key Personnel

CEO Andy Naylor
CFO Maria Denny

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