Business Growth Fund backs Mexican street food

The investment will fund the company's rollout programme which seeks to triple its number of restaurants to 18 sites over four years. It will mainly expand into London where it expects to create 250 new jobs.

This is the first investment for BGF's Manchester office but the fund is seen as one of the most active having invested four times in the past three months. Its investments to date total £37m.

Company
Barburrito was founded by Morgan Davies and Paul Kilpatrick as a single unit in Manchester in 2005.

Over the past two years the business has doubled its sites to six restaurants in Manchester, Liverpool and Leeds with the help of Richard O Sullivan, the co-founder of Millie's Cookies.

The chain now employs over 100 people and had a net income of £4m in the 2012 financial year.

Following BGF's investment, Colin Hughes from Pret a Manger and EAT, who will join the board as non-executive director.

People
Andy Gregory is the Business Growth Fund's regional director for the North of England.

Advisers
Equity - Pinsent Masons (Legal); Grant Thornton (Financial due diligence)
Company - Seneca Partners (Corporate finance)

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• Topics
• UK / Ireland
• Consumer
• Expansion
• BGF (Business Growth Fund)