Chipotle Mexican Grill

Chipotle Mexican Grill, Inc.
Company typePublic
IndustryRestaurants
GenreFast casual
FoundedJuly 13, 1993 (1993-07-13)[1]
FounderSteve Ells
HeadquartersNewport Beach, California, U.S.
Number of locations
3,500 (June 2024)
Area served
  • Canada
  • France
  • Germany
  • Kuwait
  • United Arab Emirates
  • United Kingdom
  • United States
Key people
Scott Maw, Chairman
Scott Boatwright, CEO
Products
RevenueDecrease US$9.87 billion (2023)
Increase US$1.56 billion (2023)
Increase US$1.23 billion (2023)
Total assetsIncrease US$8.04 billion (2023)
Total equityIncrease US$3.06 billion (2023)
Number of employees
116,068 (December 2023)
Subsidiaries
Websitechipotle.com
Footnotes / references
[2]

Chipotle Mexican Grill, Inc. (/ɪˈptl/, chih-POAT-lay),[3] often known simply as Chipotle, is an American multinational chain of fast casual restaurants specializing in bowls, tacos, and Mission burritos made to order in front of the customer.[4][5][6] As of June 30, 2024, Chipotle has 3,500 restaurants.[7] Its name derives from chipotle, the Nahuatl name (from chilpoctli) for a smoked and dried jalapeño chili pepper.[8][9]

Chipotle was one of the first chains of fast casual dining establishments.[10] It was founded by Steve Ells on July 13, 1993. Ells was the founder, chairman, and CEO of Chipotle. He was inspired to open the restaurant after visiting taquerias and burrito shops in San Francisco's Mission District while working as a chef. Ells wanted to show customers that fresh ingredients could be used to quickly serve food. Chipotle had 16 restaurants (all in Colorado) when McDonald's Corporation became a major investor in 1998. By the time McDonald's fully divested itself from Chipotle in 2006, the chain had grown to over 500 locations.[11] With more than 2,000 locations, Chipotle had a net income of US$475.6 million and a staff of more than 45,000 employees in 2015.[12]

In May 2018, Chipotle announced the relocation of their corporate headquarters to Newport Beach, California, in Southern California, leaving Denver after 25 years.

  1. ^ Shambora, Jessica (October 9, 2010). "Chipotle Mexican Grill, Inc. (CMG)". CNNMoney. Retrieved October 13, 2010.
  2. ^ "US SEC: Form 10-K Chipotle Mexican Grill, Inc". U.S. Securities and Exchange Commission. February 8, 2024.
  3. ^ Cite error: The named reference barnes was invoked but never defined (see the help page).
  4. ^ Birdsall, John (October 11, 2016). "The Story of the Mission Burrito, Piled High and Rolled Tight". Bon Appetit. Retrieved January 9, 2018.
  5. ^ Montgomery, Kevin. "Chipotle's Roots in the Mission". Uptown Almanac. Archived from the original on April 4, 2017. Retrieved January 9, 2018.
  6. ^ Cite error: The named reference lexpress-2012may31 was invoked but never defined (see the help page).
  7. ^ "CHIPOTLE ACCELERATES INTERNATIONAL EXPANSION THROUGH FIRST-EVER DEVELOPMENT AGREEMENT WITH ALSHAYA GROUP IN MIDDLE EAST - Jul 18, 2023". www.chipotle.com. Retrieved March 14, 2024.
  8. ^ "Online Etymology Dictionary". etymonline.com. Retrieved June 3, 2015.
  9. ^ Forgrieve, Janet (January 27, 2006). "Founder shines as shares hit $45.1 million". Rocky Mountain News. Archived from the original on July 5, 2007. Retrieved December 15, 2009.
  10. ^ Jennings, Lisa (July 17, 2006). "Mexican fast-casual chains revamp offerings as parents mull spinoffs". Nations Restaurant News. Archived from the original on July 14, 2012. Retrieved April 2, 2009.
  11. ^ Brand, Rachel (December 23, 2006). "Chipotle founder had big dreams". Rocky Mountain News. Archived from the original on April 3, 2008. Retrieved June 28, 2008.
  12. ^ "Chipotle Mexican Grill, Inc. Announces Fourth Quarter and Full Year 2015 Results; CDC Investigation Over; Chipotle Welcomes Customers Back to Restaurants". Denver, CO: Chipotle Mexican Grill. February 2, 2016. Archived from the original on February 4, 2016. Retrieved March 8, 2016.

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