Chipotle expands in UAE with Al Shaya Group, opens at Yas Mall in Abu Dhabi

Dubai: Chipotle Mexican Grill (NYSE: CMG) opened its third restaurant in the UAE today in partnership with leading international franchise retail operator Alshaya Group. Located at the Yas Mall in Abu Dhabi, the new restaurant spans over 237.7 square meters and is open from 10:00am to 11:00pm local time on weekdays and until 12:00 a.m. local time on weekends.

In April of last year, Chipotle began its expansion into the Middle East with the opening of a restaurant at The Avenues, Kuwait's largest shopping mall. This marked the company's first entry into a new country in over a decade. Since then, Alshaya Group has opened six Chipotle restaurants, three in Kuwait and three in the UAE. A seventh location is set to open at Villaggio Mall in Doha in September, with additional restaurants planned for the UAE and Kuwait by the end of the year.

"We are excited to continue our GCC expansion with the opening of Chipotle at Yas Mall in Abu Dhabi,” said Nate Lawton, Chief Business Development Officer, Chipotle. “This market debut signals another significant milestone in our partnership with Alshaya Group as we bring our responsibly sourced real ingredients to more cities across the globe. We’re thrilled with the response we’ve seen to-date in Kuwait and Dubai and look forward to serving more communities across the region in the future.”

Jeff Kellen, President of Hospitality at Alshaya Group, said: “We are excited to continue our successful partnership with Chipotle as we open this new restaurant at Yas Mall in Abu Dhabi. The early results from our Chipotle locations in Kuwait and Dubai have exceeded our expectations. We look forward to bringing Chipotle's delicious culinary offerings and menu of real ingredients to more guests throughout the Gulf region, the next being Qatar.”

Chipotle’s existing international portfolio of owned and operated restaurants includes over 60 locations in Canada; 20 in the United Kingdom; six locations in France; and two in Germany.  In North America, the Company currently owns and operates approximately 3,800 restaurants and is targeting 8 to 10% growth per year for the foreseeable future with at least 80% including a Chipotlane. Chipotle plans to open between 315 - 345 new restaurants this year, with a long-term target of 7,000 locations in North America.

Information on submitting international business development opportunities can be found at IR.CHIPOTLE.com/contact-us.