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Chipotle Mexican Grill
Chipotle Mexican Grill (NYSE: '''CMG''') is a chain of Fresh Mex restaurants specializing in San Francisco burritos and tacos. Founded by Steve Ells in 1993 and based in Denver, Colorado, 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 dining establishments. In the past, 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.[1] Aside from using Mexican-themed foods instead of submarine sandwiches, the restaurant is similar in concept to sub shops like Subway and Quiznos in terms of layout and ordering.
History
Distribution of Chipotle restaurants throughout the United States . Over 500 restaurants have since opened throughout the United States. All are company-owned, rather than franchised. In 1998, McDonald's made an initial minority investment in the company. By 2001, they had grown to be Chipotle's largest investor. The McDonald's connection allowed the firm to quickly expand, from 14 restaurants in 1998 to 480 at the end of 2005. On October 25 2005, Chipotle initially filed for its IPO. On December 23, 2005, in an updated filing, Chipotle indicated that 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 that 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 was capped at a level of 0.9157 Chipotle shares for each McDonald's share exchanged owned by McDonald's. On October 13, 2006, McDonald's completed a tax-free swap of class B common stock in Chipotle Mexican Grill, Inc. (NYSE:CMG), for its own common stock. McDonald's later fully divested its investment in Chipotle, as part of a larger initiative to divest all of its non-core business restaurants ? Chipotle, Donato's Pizza, and Boston Market ? so that it could squarely focus on the main McDonald's chain. Founder Steve Ells started as a line cook at the San Francisco restaurant Stars, and attended the Culinary Institute of America.[2] He still serves as chairman and CEO. Menu
The very first Chipotle by The University of Denver campus
The above items come filled with one of the following items:
Any of the following can be added:
Side items include: Many of these items are gluten free; the flour tortillas used for the burritos and small tacos contain gluten. The hot red salsa contains small amounts of gluten from distilled vinegar.[4] The price depends only on the meat ordered, with the exception of an extra charge for guacamole on non-vegetarian orders. 
The exterior of a Chipotle in Orlando, Florida. 
Chipotle located at the Verizon Center in Washington, D.C., on game night. Promotions
People get in line outside a Chipotle in East Lansing, Michigan during a "Free Burrito Day".
NutritionSome media outlets have criticized the chain's burritos. MSNBC Health placed the burritos on their list of the "20 Worst Foods in America" for their high caloric content and high sodium.[9] Others have praised the restaurant. Health.com included the restaurant in its list of the "Healthiest Fast Food Restaurants".[10] Based on the nutrition guides provided by the company, a standard burrito can contain more than 1000 calories, 40 grams of fat, and 2400mg of sodium.[11] IncidentsOn 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 the restaurant was cleaned and employees interviewed, the restaurant reopened the following day.[12] In April 2008, at least 22 people were diagnosed with Hepatitis A in connection with a Chipotle in La Mesa, California.[13] Environmental responsibilityChipotle's architectural design team incorporates the principles of sustainable architecture in their projects. These include:
In 2001, the company released a statement regarding a move toward using responsibly and sustainably farmed ingredients in the chain restaurants.[16] 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.[17] MusicAll music played at Chipotle restaurants is sent to the store from the company's corporate office. This music can be found and sampled under the "Restaurants" section of the company's website. DecorArchitecturally, all Chipotle restaurants are built using most of the same materials.[18] Many feature an abundance of metal and wood, giving them a faux-industrial, 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 Mayas.[19] Most Chipotle locations have pictures of the original restaurant, which is near the University of Denver campus on Evans Avenue. Sponsorships
ReferencesExternal links
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