Edison Capital acquires Burrito Picante in all-cash deal and plans UK-wide expansion
Ayrshire headquartered Edison Capital, the rapidly expanding conglomerate with interests in property, construction, hospitality and leisure, has acquired quick service restaurant (QSR) concept business, Burrito Picante, in an all-cash deal.
Founded in 2012, the Mexican food-themed business currently operates sites in Altrincham and Sheffield. Edison Capital plans expansion of the chain this year to Manchester, Liverpool, Glasgow, with openings in Edinburgh, Birmingham, London and Leicester in 2025.
Calum Melville, CEO of Edison Capital said: “We believe there is significant growth potential through franchising to expand the Burrito Picante brand UK wide and internationally through a franchising model.
We will manage Burrito Picante through our subsidiary business, MMI Raptor, a specialist provider of contract catering, facilities management, temporary and permanent staffing, vending machines and Food and Beverage (F&B) services across the UK.”
The acquisition follows in the wake of MMI Raptor’s launch of a QSR vending machine brand, Pizza Rebel, which already offers freshly cooked hot pizza with choices of topping 24 hours a day in two healthcare sites in the south of England. The company is planning this year to open 50 sites in a range of locations across the UK.
MMI Raptor will be led by its new managing director Iain Harben, who formerly held senior management roles within Compass Group and most recently was General Manager for a long established QSR brand based in Saudi Arabia.
Added Mr Melville, “In Iain we have an outstanding, experienced executive with a track record of high achievement in F&B who will drive MMI Raptor’s five-year strategic aim to achieve a leading role in the sector.”
Mr Harben said: “I am pleased to have been appointed to my new role as MD of MMI Raptor and believe I can make a significant contribution to helping the business fulfil its substantial potential.”
MMI Raptor operates from Edison Group’s state-of-the-art facility in Langlands Business Park, East Kilbride, which features 16,500 square feet of workshop and office space.
