Fast Food Chain Acquires Mexican Food Operator
Gourmet fast food chain Wrap-It-Up has acquired Flying Burrito, the Mexican food operator with three outlets in the City of London.
The deal is part of an aggressive expansion campaign by Wrap-it-Up and will increase the number of Wrap-it-up outlets to 11, with more openings planned in coming months.
"This merger just makes sense," said Tayub Mushtaq, Managing Diractor of Wrap-It-Up. "It allows us to grow while incorporating the best of Mexican into our menu. There are many other benefits as, operationally speaking, the businesses are very similar."
George Groves, co-founder of Flying Burrito and former UBS Banker, joins Wrap-It-Up as a Director. He commented: "We're delighted. Tayub's plan is brilliant and we can't wait to help supercharge things with great new food and new-look shops."
Wrap-it-Up was founded in 2006 and its menu features globally-inspired wraps including Caribbean roti, Indian tikka and Mexican burritos. The company is part-way through raising £3 million to fund new store openings and for investment into its kitchens. These new outlets will consist of a mix of both company-owned and franchised stores. Furthermore, Wrap-It-Up has signed a franchising deal to open several stores in India.
Flying Burrito was started in 2010 as small shop in Petticoat Lane, London, focussing on regional Mexican recipes with slow-cooked meat and freshly-prepared salsas.