Chipotle Mexican Grill
Chipotle Mexican Grill, Inc. (/tʃɪˈpoʊtleɪ/, chih-POHT-lay), 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. As of March 2023, Chipotle has 3,200 restaurants. Its name derives from chipotle, the Nahuatl name (from chilpoctli) for a smoked and dried jalapeño chili pepper.
| Company type | Public |
|---|---|
Traded as |
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| Industry | Restaurants |
| Genre | Fast casual |
| Founded | July 13, 1993 |
| Founder | Steve Ells |
| Headquarters | Newport Beach, California, U.S. |
Number of locations | 3,437 (December 2023) |
Area served |
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Key people | |
| Products |
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| Revenue | US$9.87 billion (2023) |
| US$1.56 billion (2023) | |
Net income | US$1.23 billion (2023) |
| Total assets | US$8.04 billion (2023) |
| Total equity | US$3.06 billion (2023) |
Number of employees | 116,068 (2023) |
| Subsidiaries |
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| Website | chipotle |
| Footnotes / references | |
Chipotle was one of the first chains of fast casual dining establishments. 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. 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.
In May 2018, Chipotle announced the relocation of their corporate headquarters to Newport Beach, California, in Southern California, leaving Denver after 25 years.