Tortilla to buy rival Chilango for up to £2.75m
By Michele Maatouk
Date: Monday 23 May 2022
(Sharecast News) - Mexican restaurant group Tortilla has bought rival Chilango from investment firm RDCP Group for up to £2.75m in cash.
Tortilla said on Monday that the deal strengthens its position as the UK's leading fast-casual Mexican chain and accelerates its expansion across the UK, which is a key pillar of its long-term growth strategy.
The acquisition further bolsters Tortilla's presence in central London, with six of the eight units being in Zone 1.
Tortilla chief executive Richard Morris said: "Chilango is a highly complementary brand that, similarly to Tortilla, provides a fantastic value-for-money proposition and embraces popular and growing sector trends for healthy, customisable food from an estate of restaurants situated in premium locations in London and Manchester.
"This acquisition accelerates our ambitious plans to further expand the Tortilla brand and these sites are in addition to our initial target of opening 45 UK restaurants over the next five years, helping us to surpass this target. It also adds another brand to the Tortilla Group, enabling us to further strengthen our leading position in the UK's fast-casual dining market."
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