Burrito chain to go national
BARBURRITO, the Mexican-themed fast food burrito concept with a site in Yorkshire, is embarking on a major roll-out plan after sealing a £3.25m investment deal from the Business Growth Fund.
Founded by entrepreneurs Morgan Davies and Paul Kilpatrick, the six-strong chain will now expand in and around London, growing to around 18 sites over the next four years and creating 250 jobs.
The investment is the Business Growth Fund’s first in the North West and fifth overall.
Barburrito was founded in 2005 and has an annual turnover of £4m. Its like-for-like turnover is up 20% on 2011.
It currently operates at Piccadilly Gardens and Deansgate in Manchester city centre, two sites in the Trafford Centre, The Galleria, Liverpool One and The Headrow, Leeds.
The founders were the first open a burrito bar in the UK. Before founding Barburrito, they successfully developed and sold an upmarket single-site takeaway business, Globe Delivery.
Three years ago they teamed up with Cheshire-based industry veteran Richard O Sullivan, the co-founder of Millie’s Cookies and the current chairman of Boost Juice Bars, who has supported the rapid growth of the business as non-executive chairman.
Following BGF’s investment, former EAT and Pret A Manger director Colin Hughes will join the board as a non-executive director, bringing additional experience in the food retail sector.
Andy Gregory, BGF’s regional director for the North said: ““Barburrito has a fantastic product, a strong vibrant brand, ambitious management and an excellent operational platform. These are strong foundations for growth and the basis for our decision to invest.
“Having established the UK’s first ever burrito bar, Morgan and Paul have successfully pioneered fresh Mexican food in the UK and it is fast becoming one of the most popular parts of the food and drink market.”
