Chipotle Mexican Grill is coming to Mexico.
The California-based chain stated Monday it’s planning to open a restaurant in Mexico early subsequent 12 months, its first location south of the border in its 30-year historical past.
Chipotle is partnering with Alsea in Mexico Metropolis, an organization that operates Domino’s, Starbucks, Burger King, Chili’s and different manufacturers in South America and Europe. Alsea plans to discover further growth in Mexico and different places within the area.
Nate Lawton, Chipotle’s chief enterprise improvement officer, stated the corporate is assured that its menu will resonate with Mexican diners.
“The nation’s familiarity with our elements and affinity for recent meals make it a gorgeous development marketplace for our firm,” Lawton stated in an announcement.
However no less than one U.S.-based Mexican chain has struggled to make it in Mexico. Taco Bell opened a number of retailers in Mexico Metropolis in 1992 however they closed inside two years. The model opened one other retailer in Monterrey, Mexico, in 2007 which additionally did not final.
The growth arrives as President Donald Trump’s tariffs on Mexican imports may improve prices for U.S. Chipotle places.
Final week, the U.S. Commerce Division stated it plans to withdraw from a 2019 settlement suspending an antidumping investigation into recent tomato imports from Mexico. That termination, set to take impact July 14, means most tomatoes from Mexico might be topic to a 20.91% tariff.
Chipotle will get round half of its avocados from Mexico, however to this point these should not topic to tariffs.
Chipotle, which was based in Denver in 1993, has 3,700 eating places and plans to confide in 345 new places this 12 months.
It has been centered on rising its worldwide footprint. Final 12 months, it partnered with Alshaya Group to open a restaurant in Kuwait, its first new market in a decade. It now has three eating places in Kuwait and two within the United Arab Emirates.
This story was initially featured on Fortune.com
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