Tortilla Mexican Grill plc (AIM:MEX) acquired Chilango Ltd from RDCP Group Ltd for £2.75 million on May 23, 2022. The transaction was done on a debt-free and cash-free basis, with the majority of the transaction consideration used to satisfy intercompany loans and other creditors. For the 52-week period to December 26, 2021, Chilango delivered revenue of £7.3 million and loss before tax of £0.2 million. The acquisition is expected to contribute EBITDA (pre-IFRS-16) of c.£0.1 million to the Group for the remainder of FY22 and FY23 EBITDA onwards of c.£1.0 million. Andrew Godber, Edward Thomas, and Nikhil Varghese of Liberum Capital Limited acted as financial advisor to Tortilla Mexican.

Tortilla Mexican Grill plc (AIM:MEX) completed the acquisition of Chilango Ltd from RDCP Group Ltd on May 23, 2022.