Chipotle Mexican Grill
191352
225823019
2008-07-15T15:52:32Z
Duke33
153142
new name
{{otheruses4|the Mexican Restaurant|the chili pepper|Chipotle}}
{{Advert|date=February 2008}}
{{Infobox Company
| company_name = Chipotle Mexican Grill, Inc.
| company_logo = [[Image:Chipotle.jpg|center|200px|Chipotle Mexican Grill]]
| company_type = [[Public company|Public]] ({{nyse2|CMG}})
| foundation = [[Denver, Colorado|Denver]] ([[1993]])
| location = [[Denver, Colorado|Denver]], [[Colorado]], 80202
| key_people = [[Steve Ells]], [[Entrepreneur|Founder]], [[CEO]] and [[Chairman]]
| area_served = 33 States and the District of Columbia
| industry = [[Restaurant]]s
| revenue = $822.93M [[USD]] (2006)
| operating_income = $61.88M [[USD]] (2006)
| net_income = $41.42M [[USD]] (2006)
| num_employees = 15,000 (2006)
| homepage = [http://www.chipotle.com/ www.chipotle.com]
}}
'''Chipotle Mexican Grill''' ([[New York Stock Exchange|NYSE]]: [http://www.nyse.com/about/listed/lcddata.html?ticker=CMG '''CMG''']) is a Denver, Colorado-based chain of [[Fresh Mex]] [[restaurant]]s specializing in [[San Francisco burrito]]s and [[taco]]s. Founded by [[Steve Ells]] in 1993, the restaurant is known for its chunky [[guacamole]] and large burritos. Chipotle is one of the first successful chains in the relatively new category of [[Fast casual restaurant#Fast casual-dining restaurants|fast-casual]] dining establishments. In the past, [[McDonald's|McDonald's Corporation]] owned a majority interest in Chipotle. McDonald's has since sold their entire stake in Chipotle; full [[divestment]] was completed in October 2006.<ref>{{cite news |first= |last= |authorlink= |coauthors= |title=Chipotle founder had big dreams |url=http://www.rockymountainnews.com/drmn/other_business/article/0,2777,DRMN_23916_5233690,00.html |quote=McDonald's bought a majority stake in Chipotle in 2001. ... In October [of 2006], McDonald's divested from Chipotle through a shareholder stock exchange, but the two companies were intertwined for eight years. |publisher=[[Rocky Mountain News]] |date=[[December 23]], [[2006]] |accessdate=2008-06-28 }}</ref>
Aside from using Mexican-themed foods instead of [[submarine sandwich|submarine sandwiches]], the restaurant is similar in concept to sub shops like [[Subway (restaurant)|Subway]] and [[Quiznos]] in terms of layout and ordering.
==History==
[[Image:ChipotleDistributionDecember2007.PNG|thumb|left|200px|Distribution of Chipotle restaurants throughout the United States as of December 2007.]]
Chipotle Mexican Grill originated in [[Denver]], [[Colorado]] in 1993 in a former Dolly Madison Ice Cream Store near the [[University of Denver]] campus. The founder, Steve Ells, still serves as [[chairman]] and [[Chief executive officer|CEO]]. The name derives from the [[Mexican Spanish]] name for a variety of [[jalapeƱo]] [[chili]], and ultimately derives from the [[Nahua language]].
Ells started as a line cook at a restaurant called Stars in San Francisco. He also attended the [[Culinary Institute of America]].<ref>[http://www.businessweek.com/innovate/content/feb2007/id20070216_695485.htm Chipotle: Fast Food with 'Integrity']</ref> Over 500 restaurants have since opened throughout the [[United States]]. Chipotle Mexican Grill restaurants are company-owned, rather than franchised. In 1997, McDonald's made an initial minority investment in Chipotle Mexican Grill. By 1999, it had grown to a controlling interest, and by 2005, it was 92%. The McDonald's connection allowed the firm to quickly expand, from 14 restaurants in 1998 to 480 at the end of 2005.
<!-- Image with unknown copyright status removed: [[Image:University of Denver campus pics 107.jpg|300px|right|thumb|The very first Chipotle, near the [[University of Denver]] campus]] -->
On [[October 25]] [[2005]], Chipotle initially filed for its [[IPO]]. On [[December 23]], [[2005]] in an updated filing, Chipotle indicated the size of the offering would be approximately 6.3 million shares with a price of $15.50 to $17.50 per share. The price range was increased to $18.00 to $20.00 per share on [[January 23]], [[2006]], an indication that the demand for the offering was strong. [[Morgan Stanley]] and [[SG Cowen]] led the offering. The public offering priced on [[January 25]], [[2006]], at a price of $22 per share. The offering raised approximately $133M in primary capital to fund new store growth. McDonald's sold $66M, including the 15% [[greenshoe]], which was exercised in full. On its first day as a public company, Chipotle stock rose exactly 100%, closing at $44.00 per share. On [[September 8]], [[2006]] McDonald's Corp. announced it had started an offer for its shareholders to exchange McDonald's stock for shares of Chipotle Mexican Grill. The exchange allowed McDonald's shareholders to acquire Chipotle shares at a 10 percent discount. The offer is capped at a level of 0.9157 Chipotle shares for each McDonald's share exchanged owned by McDonald's Corporation. On [[October 13]], [[2006]], McDonald's Corp. completed a tax-free swap of class B common stock in Chipotle Mexican Grill, Inc. (NYSE:CMG), for its own common stock. McDonald's Corp. has now fully divested its investment in Chipotle. Despite Chipotle's success and rapid growth, McDonald's decided to divest itself of the chain as part of a larger initiative to divest all of its non-core business restaurants (Chipotle, [[Donato's Pizza]], and [[Boston Market]]) so it could squarely focus on the main McDonald's chain.
Chipotle said in October 2007, it will add restaurants in [[Toronto]], [[Ontario]], [[Canada]]. Its first store will open by the end of 2008. [http://www.globeinvestor.com/servlet/story/ROC.20071030.2007-10-30T212201Z_01_N30227422_RTRIDST_0_BUSINESS-CHIPOTLE-CANADA-COL/GIStory]
==Menu==
<!-- Deleted image removed: [[Image:Chipotleingredients.jpg|thumb|right|Ingredients used in Chipotle's food]] -->
Chipotle's [[menu]] consists of five types of items:
* [[Burrito]] (filled with [[rice]] and either [[black beans]] or [[common bean#Pinto bean|pinto beans]])
* [[Fajita]] burrito (a burrito with [[onions]] and [[Bell pepper|green peppers]] sauteed in soy oil, instead of beans)
* "Burrito Bol" (burrito ingredients, without the tortilla, served in a paper bowl)
* Crispy or soft [[tacos]] (no rice or beans unless asked for)
* [[Salad]] (served with a container of chipotle-honey [[vinaigrette]])
The above items come filled with one of the following items:
* [[Chicken]] thighs marinated in chipotle adobo and grilled
* [[Carnitas]] (shredded [[pork]]) seasoned with thyme, bay leaves, juniper berries, and cracked pepper; seared and then braised
* [[Barbacoa]] (shredded [[beef]]) seared and then braised in chipotle adobo with cumin, garlic, and other spices
* [[Steak]] marinated in a spicy chipotle pepper adobo and then grilled; lean and medium-rare
* [[Vegetarian]] ([[guacamole]]), guacamole is also available as an extra cost option with one of the other four fillings
Also any of the following can be added:
* [[Cilantro]]-[[Lime (fruit)|lime]] [[rice]]
* [[Black beans]]
* [[common bean#Pinto bean|Pinto beans]] (contains pork)<ref>{{cite web | url = http://www.chipotle.com/#flash/food_ingredients | title = Chipotle - Ingredients | accessdate = 2008-04-13}}</ref>
* Fresh [[tomato]] [[Salsa (sauce)|salsa]] (mild)
* Tomatillo red-[[Chili pepper|chili]] salsa (hot)
* Tomatillo green-[[Chili pepper|chili]] salsa (medium hot)
* Roasted chili-corn salsa (medium)
* [[Sour cream]]
* [[Cheese]]
* [[Guacamole]]
* Romaine [[lettuce]]
Side items include:
*[[Lime (fruit)|Lime]] salted [[chips]]
Many of these items are gluten free though the flour tortillas for both the burritos and the small tacos contain gluten. The hot red salsa contains small amounts of gluten from distilled vinegar.<ref>[http://www.chipotle.com/#flash/speak_faq Chipotle Frequently Asked Questions - Requires Flash 9']</ref>
The price depends only on the meat ordered, with the exception of an extra charge for guacamole on non-vegetarian orders.
Additionally, there are several so-called "secret items" not listed on the regular overhead menu. Some of these are listed on the children's menu, such as [[quesadilla]]s, rice & beans bowl, or individual tacos. Other "secret items" are just combinations of existing ingredients like a sauce based on mixing a "to go" cup with half Tomatillo Red-Chili Salsa and half sour cream.<ref>[http://chipotlog.com/blog/greg/ask-a-chipotle-employee-interview-with-the-chipotle-star-par-0#off_menu Chipotlog Chipotle Off Menu Items]</ref>
[[Image:Chipotle-orlando-exterior2.jpg|thumb|right|The exterior of a Chipotle in Orlando, Florida.]]
Chipotle accepts [[fax]] orders, making it popular among office workers picking up [[lunch]]. In late 2005 Chipotle added the ability to order online. For both online and fax orders, one proceeds to the front of the line to pay for his or her food.
[[Image:Chipotle mci center.jpg|thumb|right|Chipotle located at the [[Verizon Center]] in [[Washington, D.C.]], on game night.]]
Latching on to popular health concerns, and keeping in line with its "Food With Integrity" [[mission statement]], Chipotle uses several natural ingredients. To date, in some markets, Chipotle has all-natural chicken raised without antibiotics on a vegetable diet, [[naturally raised]] [[pork]] and [[beef]]. Chipotle advertises its support of family farms, such as [[Niman Ranch]] (a California "natural" meat producer that contracts with farms in the Midwest to raise pork and other livestock). Chipotle also has vegetarian and [[veganism|vegan]] offerings. The rice, black beans, fajita veggies, salsas, guacamole, and cheese are vegetarian. Other than the meats, pinto beans (with bacon), cheese, sour cream, and honey vinaigrette dressing, all other menu items are vegan. The cheese is processed with vegetable-based [[rennet]] in order to be suitable for vegetarians. Additionally, the sour cream comes from cows that are not treated with [[Bovine somatotropin|rBGH]]. A burrito from Chipotle can contain more than 1000 calories. Nutrition information can be found in PDF format on the official site.<ref>http://www.chipotle.com/ChipotleNutrition_Oct07.pdf</ref>
==Promotions==
[[Image:Chipotle free burrito day.jpg|thumb|300px|People get in line outside a Chipotle in East Lansing, Michigan during a "Free Burrito Day".]]
Chipotle has run several "free burrito" promotions:
*'''[[Tax Day]]''' [[April 15]], [[2006]]. A mock tax form BurritoEZ was handed out at Chipotle restaurants. Customers who brought in the completed form on [[April 15]] received a free burrito. Not every location participated in this promotion in 2006. Discontinued as of April 2008.
*'''[[Valentine's Day]] [[February 13]], [[February 14]].''' Customers were invited to purchase gift cards for Valentine's Day and then bring the receipt to Chipotle on [[February 13]] or [[February 14]] to receive a free burrito. This offer was provided as a flash movie in 2006<ref>[http://www.chipotle.com/email/06-val-001/valentines.htm The page cannot be found<!-- Bot generated title -->]</ref> while the 2007 invitation is a more simple email<ref>[http://www.chipotle.com/email/07-all-103.htm The page cannot be found<!-- Bot generated title -->]</ref>.
*'''National Sports Day''' [[February 17]] through [[February 25]], [[2007]]. Chipotle had booths in front of major sports arena throughout the West Coast giving free salad and guacamole samples. They also gave free burrito postcards.
*Saint Patrick's Day Parade-Pittsburgh- Handed out free burrito postcards.
*'''Cincinnati Show Your Stripes Day''' [[January 8]], [[2006]]. Chipotle restaurants in the Cincinnati area gave free burritos to patrons who wore Cincinnati Bengals attire in preparation for the upcoming NFL playoff game.
*'''Harvesters''' 2007. Chipotle restaurants in and around the Kansas City metro area offered free burritos, bols, salads, or tacos to anyone that would bring in a nonperishable food item to donate to harvesters. Free burrito coupons were offered up at some locations that ran out of food supplies early.
*'''North Texas Food Bank Day''' [[June 5]], [[2007]]. Chipotle restaurants in the DFW area gave away free burritos to anyone bringing a non-perishable food item.
*'''Teacher Appreciation Day''' [[May 6]], [[2008]]. Chipotle restaurants in the Dallas area offered free food to teachers presenting their staff picture ID. This occurred in Arizona as well.<ref>http://phoenix.bizjournals.com/phoenix/stories/2008/05/05/daily24.html?jst=b_ln_hl</ref>
*'''Halloween'''. On [[Halloween]], some Chipotle restaurants offer free burritos to those who wear a burrito costume (wrapping themselves in foil).<ref>{{cite web | url = http://www.npr.org/blogs/bryantpark/2007/10/free_burritos.html | title = Free Burritos! We're So There. | publisher = NPR | date = [[2007-10-31]] | accessdate = 2008-03-03}}</ref>
==Incidents==
On April 18, 2008 a Chipotle Mexican Grill in [[Kent, Ohio]] briefly closed after 180 people sought medical treatment for symptoms commonly associated with [[food poisoning]]. After cleaning the restaurant and interviewing employees, the restaurant reopened the following day.<ref>{{cite news | url = http://www.newsnet5.com/news/15925444/detail.html | title = New Employees Working At Chipotle After 180 People Get Sick | publisher = NewsNet5 | date = [[2008-04-18]] | accessdate = 2008-06-26}}</ref>
In April 2008, at least 22 people were diagnosed with [[Hepatitis A]] in connection with a Chipotle in [[La Mesa]], [[California]].<ref>{{cite news | url = http://www.fox6.com/news/local/story.aspx?content_id=471d0b29-5ce4-4eae-a4ac-e26ec0663dcf | title = Another Case of Hepatitis A Linked to La Mesa Chipotle | first = Brooke | last = Beare | publisher = FOX6 San Diego | date = [[2008-04-23]] | accessdate = 2008-06-26}}</ref>
==Environmental responsibility==
Chipotle's architectural design team incorporates the principles of [[sustainable architecture]] in all future projects and included many of those elements in existing Chipotles. These include, according to Chipotle communications firm KNS Promotions Inc. in Maryland:
*Time clock/photocell controls regulate lighting levels throughout the day, taking ambient light into consideration.<ref>[http://chipotlog.com/blog/greg/ask-a-chipotle-employee-interview-with-the-chipotle-star-par-0#environment Chipotlog: where BLog stands for Burrito Log]</ref> In addition, motion sensors in the restrooms and walk-in cooler further improve lighting efficiencies. This lighting package can exceed code by 30 percent.
*High efficiency sprayers are used at the four-compartment sinks, made standard for all new stores as of April 2006, and [[waterless urinal]]s and hands-free faucets in the restrooms are being tested. One waterless urinal is in use in the [[Loveland, Colorado]] location. The [[Boulder, Colorado]] store at 29th and Arapahoe also has a waterless urinal.<ref>[http://chipotlog.com/node/68 Chipotlog: where BLog stands for Burrito Log]</ref>
In 2001, a statement was released by the company regarding a move toward using responsibly and sustainably farmed ingredients in the chain restaurants.<ref>[http://www.chipotle.com/#flash/fwi_story Food with Integrity]</ref> The statement reported that the use of these ingredients and the implementation of sustainable architecture were to reflect CEO Steve Ells' philosophy for their food.
In June 2008, Chipotle announced that they would use more local produce in their food (lettuce, onions and peppers) and that it would be purchased from small and mid-sized farms.[http://www.pressdemocrat.com/article/20080619/LIFESTYLE05/467734217]
==Music==
All music played at Chipotle establishments is sent to the store from upper offices of Chipotle. This music can be found and sampled under the "Restaurants" section of their website.
==Decor==
<!-- Commented out: [[Image:chipotle interior.jpg|thumb|Interior photograph of a Chipotle restaurant]] -->
Architecturally, Chipotle restaurants are built using most of the same materials,<ref>http://www.chipotle.com/#flash/restaurants_design</ref> and many feature an abundance of metal and wood, giving them a faux-industrial, [[Postmodern architecture|post-modern]] look.
Some Chipotle restaurants also display wood-and-metal sculptures of human figures, made by sculptor [[Bruce Gueswel]] to resemble the artistic style of ancient [[Maya peoples|Mayas]].<ref>http://www.chipotle.com/#flash/restaurants_art</ref> Every Chipotle has a picture of the first Chipotle somewhere inside.<ref>[http://www.chipotle.com/ Chipotle: Gourmet Burritos and Tacos<!-- Bot generated title -->]</ref>
==Sponsorships==
*[[Team Garmin-Chipotle]] - A Colorado based [[List of UCI Professional Continental and Continental Teams#UCI Professional Continental Teams|UCI Professional Continental Cycling Team]] established in 2007.
==References==
{{reflist}}
==External links==
*[http://www.chipotle.com/ Chipotle Mexican Grill website]
*[http://www.businessweek.com/innovate/content/feb2007/id20070216_695485.htm Interview with CEO Steve Ells]
*[http://groups.yahoo.com/group/chipotlediscussion/ Yahoo discussion group]
[[Category:Companies based in Denver, Colorado]]
[[Category:Companies established in 1993]]
[[Category:Fast casual restaurants]]
[[Category:Fast-food chains of the United States]]
[[Category:Fast-food franchises]]
[[Category:Food companies of the United States]]
[[Category:Mexican restaurants]]
[[Category:Restaurants in Denver]]
[[de:Chipotle Mexican Grill]]