Chipotle Mexican Grill (NYSE: CMG) will expand to the Middle East in 2024 through its first-ever development agreement.
The Newport Beach restaurant chain signed the deal with franchise operator Alshaya Group who will open the first set of locations in Dubai and Kuwait early next year.
“Leveraging Alshaya’s market expertise will enable us to quickly gain access to these vibrant economies,” Chairman and Chief Executive Brian Niccol said in a statement.
This new partnership marks the beginning of Chipotle’s newly formed business development group currently looking at expansion through outside partners.
“In announcing this exclusive partnership across the Middle East, we are proud to be Chipotle’s first and only franchise partner, as we continue to enhance our portfolio by bringing world leading brands to our customers across our markets,” Executive Chairman Mohammed Alshaya said.
Chipotle’s currently counts 34 international locations across Canada, the United Kingdom, France and Germany – all owned and operated by the company. It has more than 3,200 restaurants in the U.S.
