Tortilla Mexican Grill Boosts European Footprint with Fresh Burritos Acquisition

Tortilla Mexican Grill plc (LSE:MEX) has reported its 2024 annual results, highlighting a strategic drive to revitalize its UK business and accelerate expansion across Europe through the recent acquisition of Fresh Burritos in France. The company recorded a 3.5% increase in revenue, reaching £68.0 million, supported by contributions from the new French acquisition and robust franchise performance.

While group like-for-like sales experienced a slight dip, UK sales demonstrated a notable rebound, signaling a positive recovery trend. The integration process for Fresh Burritos has encountered some delays due to planning approval processes in France; however, the company expects to complete store conversions by the end of 2025.

Tortilla’s growth strategy includes investments in technology upgrades and brand refresh initiatives designed to enhance customer experience and profitability moving forward.

About Tortilla Mexican Grill plc

Founded in 2007 by entrepreneurs from San Francisco, Tortilla Mexican Grill is now Europe’s largest fast-casual Mexican dining brand. The company operates 81 outlets across the UK, 27 in France, and 12 in the Middle East, serving California-style burritos, tacos, and salads known for quality and speed of service. Committed to sustainability, Tortilla uses recycled packaging and renewable energy throughout its operations. The business is headquartered in London, listed on the London Stock Exchange, and employs over 1,200 staff members.

• Average Trading Volume: 47,118 shares

• Technical Sentiment Signal: Sell

• Market Capitalization: £13.92 million

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