‘Barron’s Roundtable’ panelists offer their economic outlook and analyze Starbucks and Chipotle stock.
Chipotle plans to launch restaurants in Mexico starting in 2026 through a newly signed development agreement.
Under a new development agreement that it has with restaurant operator Alsea, S.A.B. de C.V., Chipotle said Monday it looks to debut its first-ever restaurant in Mexico by “early” next year.
Alsea runs several thousand restaurants from global quick service, coffee shop and full-service brands in many countries in Latin America and Europe, according to Chipotle.
A Chipotle restaurant in New York on July 11, 2023. (Jeenah Moon/Bloomberg via / Getty Images)
“We are proud to work with an iconic brand like Chipotle and help grow its international business for years to come,” Alsea CEO Armando Torrado said in a statement.
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Nate Lawton, Chipotle’s chief business development officer, said in a statement that the chain is “confident that our responsibly sourced, classically-cooked real food will resonate with guests in Mexico.”
“The country’s familiarity with our ingredients and affinity for fresh food make it an attractive growth market for our company,” he continued.
A person works in a Chipotle outlet in Manhattan, Feb. 7, 2022. (Andrew Kelly / Reuters)
Chipotle said Monday it will also start “exploring additional expansion markets in the region” with Alsea.
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The fast-food chain, known for its burritos and bowls, currently has a presence in six international markets – Canada, the U.K., France, Germany, Kuwait and the United Arab Emirates.
The new partnership with Alsea comes nearly two years after Chipotle signed an international development agreement focused on expansion in the Middle East. That deal was with the Alshaya Group, who, together with Chipotle, has since launched three locations in Kuwait and two in the UAE.
Food is served at a Chipotle restaurant on Oct. 25, 2017, in Chicago. (Photo Illustration by Scott Olson / Getty Images)
Chipotle’s overall footprint includes more than 3,700 restaurants. The vast majority of those – 3,600 – are located throughout the U.S., according to its annual report.
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The company has a long-term goal of reaching 7,000 restaurants in North America.
For 2025, the chain “will accelerate growth in Canada and the Middle East in 2025,” CEO Scott Boatwright said during the company’s fourth-quarter earnings call in early February.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CMG | CHIPOTLE MEXICAN GRILL INC. | 46.52 | -1.66 | -3.45% |
“We will also continue to make progress on proving out the economic model in Europe and begin to build a pipeline for growth,” he added.
