A chicken burrito, guacamole, bag of tortilla chips and a drink at a Chipotle Mexican Grill Inc. restaurant in El Segundo, California.
Patrick T. Fallon | Bloomberg | Getty Images
Chipotle Mexican Grill said on Tuesday it will open a new restaurant in Canada for the first time since 2018, as it accelerates its Canadian expansion over the next 12 months.
The new restaurant will open on March 30. The burrito chain has said it will add eight new locations in Canada, including one with a drive-through ‘Chipotlane’ for digital delivery vans. Chipotle operates 23 Canadian restaurants, most of which are concentrated in Vancouver and Toronto.
“We will experiment with different location formats and restaurant designs across the country to determine consumers’ preferences in the different markets,” CFO Jack Hartung said in a statement.
Chipotle has taken longer than its peers to build its international presence as it has focused on reviving US sales after a series of food-related outbreaks plagued its business several years ago. Chipotle has introduced new security measures and added menu items to entice customers back. It also built several sites with Chipotlanes.
The company has more than 2,750 locations worldwide, most of which are in the US
Shipotle shares are up more than 5% this year, giving a market value of more than $ 41 billion. The stock rose 1.6% on Tuesday.