MEX: Tortilla Mexican Grill

Tortilla Mexican Grill (LON:MEX)

Tortilla Mexican Grill is a small cap (market cap ~£48M) listed on the UK AIM exchange and is somewhat illiquid. The chain boasts the largest portfolio of stores across the country in its subcategory, outranking its closest competitor by a factor of 5x. As a recent IPO, and one that trades in a somewhat illiquid manner, I urge caution to those reading. These are merely my preliminary notes on the company.

The perception of British cuisine is oft boiled down to being bland, unimaginative, stodgy, or just “bad”. It lacks the tantalising spice and variety of Indian food, the precision and aesthetic of Japanese cuisine, and the vibrancy and aroma of the Mediterranian diet. I believe that what most outsiders fail to appreciate is that the UK is one of the best cultivators of worldly cuisine. Even in the small city where I reside, with a population of only ~500,000, you will find the world’s spectrum of culinary preferences represented within walking distance. As such, the nation is no stra…