Chipotle Mexican Grill (CMG, Financial) is set to open its first restaurant in Mexico early next year, marking a significant step in its international expansion strategy. The company has signed a development agreement with Alsea, which operates well-known brands like Starbucks and Domino's Pizza in Latin America and Europe.
After the initial launch in 2026, Chipotle aims to explore further opportunities in the region, potentially tapping into the broader Latin American market. This expansion comes at a time of trade tensions between the U.S. and Mexico, particularly regarding tariffs on Mexican avocados. While Chipotle has diversified its avocado sourcing, about half still comes from Mexico.
Having focused on the U.S. market for decades, Chipotle has recently been pushing for international growth. The company currently operates 58 locations in Canada, 20 in the UK, six in France, and two in Germany. Additionally, through a partnership with Alshaya Group, Chipotle has three restaurants in Kuwait and two in the UAE.
