chipotle who owns

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Chipotle founder and CEO Steve Ells could have been the first burrito billionaire. Chipotle stock is soaring again, up 12% on the strength of its recent earnings report. The shares are now up 22% in 2014 and 63% over the last year.Jul 22, 2014

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Mar 06, 2022 · Who currently owns Chipotle? Steve Ells founded Chipotle Mexican Grill in 1993, an American chain of fast-casual restaurants that serve Mexican-inspired foods such as tacos …

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Is chipotle owned?

All of Chipotle’s restaurants are company-owned, rather than franchised. As of December 2012#N#[update]#N#, 1430 restaurants have since opened throughout the United States and Canada, with locations in 43 states, Ontario, British Columbia, and the District of Columbia.

What is the chipotle team?

Chipotle’s team includes a residing corporate office of managers and its board of directors. Members of both teams are appointed to serve on committees: audit, compensation, and nominating and corporate governance.

What is chipotle restaurant?

Chipotle Mexican Grill, Inc. ( / tʃɪˈpoʊtleɪ /, chih-POHT-lay ), often known simply as Chipotle, is an American chain of fast casual restaurants in the United States, United Kingdom, Canada, Germany, and France, specializing in tacos and Mission burritos that are made to order in front of the customer.

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Where does chipotle come from?

Its name derives from chipotle, the Nahuatl name for a smoked and dried jalapeño chili pepper. The company trades on the New York Stock Exchange under the ticker symbol CMG.

Is chipotle fast casual?

Chipotle is one of the first chains of fast casual dining establishments. Competitors in the fast-casual Mexican market include Qdoba Mexican Grill, Moe’s Southwest Grill, Rubio’s Coastal Grill, and Baja Fresh.

Where was the first chipotle?

The first Chipotle, near the campus of the University of Denver. Founder Steve Ells attended the Culinary Institute of America in Hyde Park, New York. Afterward, he became a line cook for Jeremiah Tower at Stars in San Francisco. There, Ells observed the popularity of the taquerías and San Francisco burritos in the Mission District.

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When did the second chipotle open?

The second store opened in 1995 using Chipotle’s cash flow, and the third was opened using an SBA loan. To fund more growth, Ells’ father invested $1.5 million. Afterwards, Ells created a board of directors and business plan, raising an additional $1.8 million for the company.

What is Chipotle?

Chipotle is the largest Mexican fast-food grill chain, envisioned initially as a small business, which eventually turned into a mega empire. It has become synonymous with Mexican fast food. With over $7 billion in net income, adding in close to a whopping $2 billion last year alone.

Who Owns Chipotle?

Chipotle isn’t owned by an individual, rather a large group of institutional investors and shareholders. Steve Ells is the founder and former CEO of Chipotle Mexican Grill (CMG).

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Job Positions At Chipotle

The job of a crew member is a very entry-level position at Chipotle. It is a great opportunity for new hires to see if they fit in the fast-food industry. Crew Members have multiple daily tasks that they have to carry out. This may include taking orders, serving food, packaging food, preparing food, etc.

Is chipotle a Mexican chain?

Sure, there are Mexican chains that have been around longer, but Chipotle caught people’s attention (and wallets) in a way that other fast food chains hadn’t before. If you’re a Chipotle fan, you probably know a lot about the restaurant chain.

Where was the first chipotle located?

The first Chipotle, located near the University of Denver, was wildly successful, with store sales of over 1000 burritos a day. Ells had originally wanted to take the profit from the burrito shop to open a fine-dining restaurant, but when Chipotle did so unexpectedly well, he decided to focus his efforts on expansion.

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Did McDonald’s and Chipotle have a relationship?

According to a history of the McDonald’s and Chipotle relationship put together by Bloomberg, one of the board members had a friend who worked for McDonald’s as a business developer and he managed to get Ells invited to a McDonald’s board meeting. Ells brought burritos and tacos, and the McDonald’s board loved it.

When did chipotle start?

“When I created Chipotle in 1993, I had a very simple idea: Offer a simple menu of great food prepared fresh each day, using many of the same cooking techniques as gourmet restaurants. Then serve the food quickly, in a cool atmosphere. It was food that I wanted, and thought others would like too. We’ve never strayed from that original idea. The critics raved and customers began lining up at my tiny burrito joint. Since then, we’ve opened a few more.” –Steve Ells, founder and CEO

How much did McDonald’s stake in chipotle in 1999?

Revenues for the year totaled approximately $31 million, compared to $13 million for 1997. McDonald’s increased its stake in Chipotle to more than 50 percent in 1999 and would later bump its ownership interest to 90 percent.

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How many outlets does chipotle have?

Chipotle Mexican Grill, Inc. is one of the leading fast-casual Mexican restaurant chains, with approximately 400 outlets in about 20 states, mainly in the West and Midwest. Known for its fresh, gourmet, and increasingly organic ingredients, Chipotle (pronounced chi-POAT-lay) offers a fairly simple menu of burritos, fajitas, …

How many workers did chipotle employ?

Whereas the first Chipotle was a cramped 800 square feet in size, the subsequent units covered 1,600 to 2,800 square feet, and they employed about 17 workers each. Although the design differed from unit to unit, the architecture aimed for a hip, urban feel.

When did chipotle open in Denver?

As six more Chipotle Mexican Grills opened in the Denver area during 1997 , bringing the total to 14, Ells and other company leaders were seeking more funding to accelerate the growth rate. Venture capital firms were more interested in the high-flying tech world at the time, so a member of the Chipotle board of directors sent an unsolicited business plan to fast-food leader McDonald’s Corporation. The timing was perfect. Domestic sales were flattening at the burger giant, and executives were seeking a way to jump-start growth. In February 1998, after a year of negotiations and due diligence, McDonald’s made its first-ever investment in a restaurant chain it did not itself develop, buying a minority stake in Chipotle. (Later, it bought the Boston Market chain and owned the Donatos Pizza chain for a few years.) Chipotle continued to be run independently, headed by Ells as CEO, and neither its management structure nor its menu changed. Growth would continue to be generated through company-owned outlets–now with the backing of much deeper pockets–but there was the clear potential for franchising, eventually, through McDonald’s system of franchisees.

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Is Mexican Grill limiting?

Officials at the chain reasoned that “Mexican Grill” had become too commonly used throughout the industry and might prove limiting, given that the menu already went well beyond typical Mexican fare. Around this same time, the company made the first significant changes to the menu since the first store opened.

How much did chipotle raise the price of pork burritos?

To use the higher-end and higher-priced product, Chipotle had to raise the price of its pork burritos by more than $1, to $5.50, but sales hardly suffered. Ells told Nation’s Restaurant News in July 2001 that “our customers can’t get enough of the new recipe. …

Pizzeria Locale

Chipotle partnered with Pizzeria Locale in 2011, an Italian wood-fired pizza shop with seven locations in the US. The interior of the restaurant is similar to Chipotle because of its fast casual setting. Pizzeria Locale serves 11″ pies that are the perfect size for sharing and can be made with either red or white sauce.

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Tasty Made

Tasty Made reminds me of that old style diner in the movie A Cinderella Story greasy American food with a classic charm. The menu is simple: hamburgers, cheeseburgers, fries, and shakes. Instead of Shack Sauce at Shake Shack or Animal Style at In-N-Out , Tasty Burgers are garnished with a creamy Tasty Bacon Sauce.

ShopHouse

Don’t get excited about this last one. Chipotle just announced that it is closing all 15 of its ShopHouse locations in California, Illinois, Maryland, and D.C. on March 17. The chain models itself as a Southeast Asian kitchen and its cuisine draws influence from Malaysia, Thai, and Vietnamese flavors.

Overview

Chipotle Mexican Grill, Inc. , often known simply as Chipotle, is an American chain of fast casual restaurants in the United States, United Kingdom, Canada, Germany, and France, specializing in tacos and Mission burritos that are made to order in front of the customer. Its name derives from chipotle, the Nahuatl name for a smoked and dried jalapeño chili pepper.

History

Founder Steve Ells attended the Culinary Institute of America in Hyde Park, New York. Afterward, he became a line cook for Jeremiah Tower at Stars in San Francisco. There, Ells observed the popularity of the taquerías and San Francisco burritos in the Mission District. In 1993, Ells took what he learned in San Francisco and opened the first Chipotle Mexican Grill in Denver, Colorado, in a f…

International

According to an article in The Motley Fool, Chipotle had 17 locations outside of the United States by October 2014 with the majority in Canada, and the UK was in the process of opening more locations. The rate of overseas expansion was slower than expected. Many of the press reviewers thought that the food was overpriced for their area.

Corporate management

Chipotle’s team includes a residing corporate office of managers and its board of directors. Members of both teams are appointed to serve on committees: audit, compensation, and nominating and corporate governance.
The top management team consisted of the chief executive officer, Steve Ells; the chief financial officer, Jack R. Hartung; the chief marketing and development officer, Mark Crumpacker. The cu…

Menu

Chipotle’s menu consists of five items: burritos, bowls, tacos, quesadillas, and salads. The price of each item is based on the choice of chicken, pork carnitas, barbacoa, steak, tofu-based “sofritas”, or vegetarian (with guacamole or queso , which would be at an extra charge otherwise). Additional optional toppings are offered free of charge, including: rice, beans, four types of salsa, sour cream, c…

Chipotle’s menu consists of five items: burritos, bowls, tacos, quesadillas, and salads. The price of each item is based on the choice of chicken, pork carnitas, barbacoa, steak, tofu-based “sofritas”, or vegetarian (with guacamole or queso , which would be at an extra charge otherwise). Additional optional toppings are offered free of charge, including: rice, beans, four types of salsa, sour cream, c…

Food safety

Since 2008, a former Kansas State University food safety professor has accused Chipotle of confusing the public by using such terms as “naturally raised meats”, “organic ingredients”, and “locally sourced” and trying to equate those terms with food safety. In rebuttal, a Chipotle spokesperson told The Daily Beastthat “all of our practices have always been very much within industry norms. It’s importan…

Data breach

In April 2017, Chipotle first announced that their point of salepayment system was compromised during a three-week period from late March to mid-April but gave very little information about the incident. The following month, the company later revealed that 2,250 restaurants in 47 states were involved which could potentially affect hundreds of thousands of customers who may had their credit or debit card account information with security codes stolen. A few restaurants in Ca…

Lawsuits

In November 2016, three men filed a class-action lawsuit against Chipotle alleging that a burrito was listed as containing only 300 calories, when in fact it contained more. They are seeking “unspecified damages and for an injunction against the company to prevent it from posting what it calls misleading information on its food.”
In January 2020 the company received a $1.3 million fine from the state of Massachusetts for 1…