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
3,437 (December 2023)
Area served
  • Canada
  • France
  • Germany
  • United Kingdom
  • United States
Key people
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 (2023)
Subsidiaries
Websitechipotle.com
Footnotes / references
[2]

Chipotle Mexican Grill, Inc. (/ɪˈptl/, chih-POHT-lay),[3] often known simply as Chipotle, is an international 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 March 2023, Chipotle has 3,200 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] Founded by Steve Ells on July 13, 1993, 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.