{"id":885250,"date":"2025-09-10T15:59:03","date_gmt":"2025-09-10T19:59:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/chipotle-to-expand-to-asia-for-the-first-time-through-a-joint-venture-with-spc-group\/"},"modified":"2025-09-10T15:59:03","modified_gmt":"2025-09-10T19:59:03","slug":"chipotle-to-expand-to-asia-for-the-first-time-through-a-joint-venture-with-spc-group","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/chipotle-to-expand-to-asia-for-the-first-time-through-a-joint-venture-with-spc-group\/","title":{"rendered":"CHIPOTLE TO EXPAND TO ASIA FOR THE FIRST TIME THROUGH A JOINT VENTURE WITH SPC GROUP"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<ul type=\"disc\">\n<li>In partnership,\u00a0Chipotle and SPC Group plan to open the first Chipotle restaurants in <span class=\"xn-location\">South Korea<\/span> and <span class=\"xn-location\">Singapore<\/span> in 2026.\u00a0<\/li>\n<\/ul>\n<p>\n        <span class=\"legendSpanClass\"><br \/>\n          <span class=\"xn-location\">NEWPORT BEACH, Calif.<\/span><br \/>\n        <\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Sept. 10, 2025<\/span><\/span> \/PRNewswire\/ &#8212; Chipotle Mexican Grill (NYSE: CMG) today announced it has signed a joint venture to open restaurants in <span class=\"xn-location\">Asia<\/span> for the first time. In partnership, SPC Group, a leading <span class=\"xn-location\">South Korea<\/span>-based food company, and Chipotle plan to open the first Chipotle restaurants in <span class=\"xn-location\">South Korea<\/span> and <span class=\"xn-location\">Singapore<\/span> in 2026.<\/p>\n<p>&#8220;With a rapidly evolving dining-out business, fueled by preferences for variety and convenience, expanding into <span class=\"xn-location\">Asia<\/span> presents an incredible growth opportunity for Chipotle,&#8221; said <b><span class=\"xn-person\">Scott Boatwright<\/span>, Chief Executive Officer of Chipotle<\/b>. &#8220;Real food prepared fast is in high demand in these markets and with notable brand awareness among consumers, we see potential for strong adoption out of the gate.&#8221;<\/p>\n<p>&#8220;Given the familiarity of this iconic brand among Koreans and Singaporeans, and their passion for exceptional culinary experiences, these two markets are ideal entry points for Chipotle in <span class=\"xn-location\">Asia<\/span>,&#8221; said <b><span class=\"xn-person\">Heesoo Hur<\/span>, Executive Vice President and owner of SPC Group<\/b>. &#8220;In addition, we have a proven track record of developing global brands and we see an opportunity for leveraging our market expertise to introduce Chipotle&#8217;s delicious, responsibly sourced food to guests across the continent who aren&#8217;t yet familiar with the concept&#8217;s real ingredients prepared fresh daily.&#8221;<\/p>\n<p>\n        <b>Chipotle&#8217;s Cultural Relevance<br \/><\/b>Over the years, many Korean consumers including popular K-Pop artists have developed a passion for the brand after trying Chipotle&#8217;s real food for the first time while visiting the U.S. In 2021, a member of the best-selling K-pop group of all-time famously referred to the restaurant as &#8220;Chicotle&#8221; and said he wanted to &#8220;eat [it] every day.&#8221; In response, Chipotle temporarily changed its name on X to &#8220;Chicotle&#8221; in honor of its newest fan and partnered with a fan account of the band on X to give away thousands of free entrees to followers of the group in the U.S. (see <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4506197-1&amp;h=424310883&amp;u=https%3A%2F%2Fwww.nme.com%2Fnews%2Fmusic%2Fbts-jungkook-inspires-chipotle-to-change-its-name-on-social-media-3146493&amp;a=here\" target=\"_blank\" rel=\"nofollow\">here<\/a>).\u00a0\u00a0<\/p>\n<p>In 2023,\u00a0Chipotle received another notable shoutout from two members of a prominent K-pop girl group who explained they &#8220;couldn&#8217;t live without Chipotle&#8221; despite not being able to access it in Korea (see <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4506197-1&amp;h=4033071351&amp;u=https%3A%2F%2Fwww.koreaboo.com%2Fstories%2Fle-sserafim-yunjin-sad-leave-behind-chipotle-in-united-states%2F&amp;a=here\" target=\"_blank\" rel=\"nofollow\">here<\/a>).<\/p>\n<p>\n        <b>Chipotle&#8217;s International Expansion<br \/><\/b>Chipotle signed its first international development agreement in <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4506197-1&amp;h=73257126&amp;u=https%3A%2F%2Fnewsroom.chipotle.com%2F2023-07-18-CHIPOTLE-ACCELERATES-INTERNATIONAL-EXPANSION-THROUGH-FIRST-EVER-DEVELOPMENT-AGREEMENT-WITH-ALSHAYA-GROUP-IN-MIDDLE-EAST&amp;a=July+2023\" target=\"_blank\" rel=\"nofollow\"><span class=\"xn-chron\">July 2023<\/span><\/a> with Alshaya Group to open restaurants in the <span class=\"xn-location\">Middle East<\/span>. Alshaya Group currently operates three restaurants in <span class=\"xn-location\">Kuwait<\/span> and three in the <span class=\"xn-location\">United Arab Emirates<\/span>. In <span class=\"xn-chron\">April 2025<\/span>, Chipotle signed a development agreement to open restaurants in <span class=\"xn-location\">Mexico<\/span> for the first time. Alsea, S.A.B. de C.V. (Alsea), a leading restaurant operator in <span class=\"xn-location\">Latin America<\/span> and <span class=\"xn-location\">Europe<\/span>, will open the first Chipotle location in <span class=\"xn-location\">Mexico<\/span> in 2026 and begin exploring additional expansion markets in the region.<\/p>\n<p>Chipotle&#8217;s existing international portfolio of owned and operated restaurants includes over 60 locations in <span class=\"xn-location\">Canada<\/span>; 20 in the <span class=\"xn-location\">United Kingdom<\/span>; six locations in <span class=\"xn-location\">France<\/span>; and two in <span class=\"xn-location\">Germany<\/span>. The company currently operates over 3,800 restaurants and plans to open between 315 and 345 new restaurants this year, with a long-term target of operating 7,000 locations in the U.S. and <span class=\"xn-location\">Canada<\/span>.<\/p>\n<p>Chipotle&#8217;s business development group, led by Chief Business Development Officer <span class=\"xn-person\">Nate Lawton<\/span>, is exploring additional opportunities for growth via outside partnerships. Information on submitting a proposal can be found at <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4506197-1&amp;h=2722968261&amp;u=https%3A%2F%2Fir.chipotle.com%2Fcontact-us&amp;a=https%3A%2F%2Fir.chipotle.com%2Fcontact-us\" target=\"_blank\" rel=\"nofollow\">https:\/\/ir.chipotle.com\/contact-us<\/a>.<\/p>\n<p>\n        <b>About Chipotle<\/b><br \/>\n        <br \/>Chipotle Mexican Grill, Inc. (NYSE: CMG) is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. There are over 3,800 restaurants as of\u00a0June 30, 2025, in\u00a0the United States,\u00a0Canada, the\u00a0United Kingdom,\u00a0France,\u00a0Germany,\u00a0Kuwait, and\u00a0United Arab Emirates\u00a0and it is the only restaurant company of its size that owns and operates all its restaurants in\u00a0North America\u00a0and\u00a0Europe. With over 130,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. For more information or to place an order online, visit\u00a0<a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4506197-1&amp;h=2105933019&amp;u=http%3A%2F%2Fwww.chipotle.com%2F&amp;a=chipotle.com\" target=\"_blank\" rel=\"nofollow\">chipotle.com<\/a>.<\/p>\n<p>\n        <b>About SPC Group<br \/><\/b>SPC Group is a Korea-based global food company with over 80 years of history. It owns 30 renowned brands and operates 7,000 stores worldwide, including Paris Baguette,\u00a0Paris Croissant, Passion 5, Coffee@Works and StrEAT. SPC Group has successfully introduced global brands to the Korean market, including\u00a0Baskin Robbins, Dunkin, Pascucci, LINA&#8217;s, Jamba and Shake Shack. SPC Group remains committed to innovation, quality and sustainable growth, shaping a healthier and happier global food culture.<\/p>\n<p>\u00a0<b>Forward-Looking Statements<\/b>\u00a0<br \/>Certain statements in this press release are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements about the timing of openings the first Chipotle restaurants in <span class=\"xn-location\">South Korea<\/span> and <span class=\"xn-location\">Singapore<\/span>, Chipotle&#8217;s prospects for business in\u00a0Asia, Chipotle&#8217;s plans to open between 315 and 345 new restaurants in the U.S. and\u00a0Canada\u00a0in 2025 and its long-term target of operating 7,000 locations in the U.S. and\u00a0Canada. We use words such as &#8220;anticipate&#8221;, &#8220;expect,&#8221; &#8220;believe&#8221;, &#8220;could&#8221;, &#8220;should&#8221;, &#8220;may,&#8221; &#8220;are confident&#8221; and similar terms and phrases to identify forward-looking statements. The forward-looking statements in this press release are based on currently available operating, financial and competitive information, available to us as of the date of this release and we assume no obligation to update these forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the statements, including the risks described from time to time in our SEC reports, including our annual report on Form 10-K and quarterly reports on Form 10-Q, all of which are available on the investor relations page of our website at\u00a0<a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4506197-1&amp;h=3595701219&amp;u=https%3A%2F%2Fir.chipotle.com%2F&amp;a=ir.chipotle.com\" target=\"_blank\" rel=\"nofollow\">ir.chipotle.com<\/a>.<\/p>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder6876\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2769542\/CMG_Korean.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2769542\/CMG_Korean.jpg\" title=\"Chipotle and SPC Group are planning to open the first Chipotle restaurant in South Korea in 2026. (PRNewsfoto\/Chipotle Mexican Grill)\" alt=\"Chipotle and SPC Group are planning to open the first Chipotle restaurant in South Korea in 2026. (PRNewsfoto\/Chipotle Mexican Grill)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder0\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2769544\/SPC_Chipotle_Signatures.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2769544\/SPC_Chipotle_Signatures.jpg\" title=\"Heesoo Hur, Executive Vice President and owner of SPC Group (left), and Scott Boatwright, Chief Executive Officer of Chipotle (right), sign a joint venture agreement to open Chipotle restaurants in South Korea and Singapore for the first time. (PRNewsfoto\/Chipotle Mexican Grill)\" alt=\"Heesoo Hur, Executive Vice President and owner of SPC Group (left), and Scott Boatwright, Chief Executive Officer of Chipotle (right), sign a joint venture agreement to open Chipotle restaurants in South Korea and Singapore for the first time. (PRNewsfoto\/Chipotle Mexican Grill)\" \/><br \/>\n          <\/a>\n        <\/p>\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/624816\/Chipotle_Mexican_Grill_Logo.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/624816\/Chipotle_Mexican_Grill_Logo.jpg\" title=\"Chipotle Mexican Grill Logo (PRNewsfoto\/Chipotle Mexican Grill)\" alt=\"Chipotle Mexican Grill Logo (PRNewsfoto\/Chipotle Mexican Grill)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/edge.prnewswire.com\/c\/img\/favicon.png?sn=LA70132&amp;sd=2025-09-10\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/chipotle-to-expand-to-asia-for-the-first-time-through-a-joint-venture-with-spc-group-302553062.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/chipotle-to-expand-to-asia-for-the-first-time-through-a-joint-venture-with-spc-group-302553062.html<\/a><\/p>\n<p>SOURCE  Chipotle Mexican Grill<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=LA70132&amp;Transmission_Id=202509101545PR_NEWS_USPR_____LA70132&amp;DateId=20250910\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire In partnership,\u00a0Chipotle and SPC Group plan to open the first Chipotle restaurants in South Korea and Singapore in 2026.\u00a0 NEWPORT BEACH, Calif. , Sept. 10, 2025 \/PRNewswire\/ &#8212; Chipotle Mexican Grill (NYSE: CMG) today announced it has signed a joint venture to open restaurants in Asia for the first time. In partnership, SPC Group, a leading South Korea-based food company, and Chipotle plan to open the first Chipotle restaurants in South Korea and Singapore in 2026. &#8220;With a rapidly evolving dining-out business, fueled by preferences for variety and convenience, expanding into Asia presents an incredible growth opportunity for Chipotle,&#8221; said Scott Boatwright, Chief Executive Officer of Chipotle. &#8220;Real food prepared fast is in high demand in these markets &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/chipotle-to-expand-to-asia-for-the-first-time-through-a-joint-venture-with-spc-group\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;CHIPOTLE TO EXPAND TO ASIA FOR THE FIRST TIME THROUGH A JOINT VENTURE WITH SPC GROUP&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-885250","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CHIPOTLE TO EXPAND TO ASIA FOR THE FIRST TIME THROUGH A JOINT VENTURE WITH SPC GROUP - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/chipotle-to-expand-to-asia-for-the-first-time-through-a-joint-venture-with-spc-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CHIPOTLE TO EXPAND TO ASIA FOR THE FIRST TIME THROUGH A JOINT VENTURE WITH SPC GROUP - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire In partnership,\u00a0Chipotle and SPC Group plan to open the first Chipotle restaurants in South Korea and Singapore in 2026.\u00a0 NEWPORT BEACH, Calif. , Sept. 10, 2025 \/PRNewswire\/ &#8212; Chipotle Mexican Grill (NYSE: CMG) today announced it has signed a joint venture to open restaurants in Asia for the first time. In partnership, SPC Group, a leading South Korea-based food company, and Chipotle plan to open the first Chipotle restaurants in South Korea and Singapore in 2026. &#8220;With a rapidly evolving dining-out business, fueled by preferences for variety and convenience, expanding into Asia presents an incredible growth opportunity for Chipotle,&#8221; said Scott Boatwright, Chief Executive Officer of Chipotle. &#8220;Real food prepared fast is in high demand in these markets &hellip; Continue reading &quot;CHIPOTLE TO EXPAND TO ASIA FOR THE FIRST TIME THROUGH A JOINT VENTURE WITH SPC GROUP&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/chipotle-to-expand-to-asia-for-the-first-time-through-a-joint-venture-with-spc-group\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-09-10T19:59:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/2769542\/CMG_Korean.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chipotle-to-expand-to-asia-for-the-first-time-through-a-joint-venture-with-spc-group\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chipotle-to-expand-to-asia-for-the-first-time-through-a-joint-venture-with-spc-group\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"CHIPOTLE TO EXPAND TO ASIA FOR THE FIRST TIME THROUGH A JOINT VENTURE WITH SPC GROUP\",\"datePublished\":\"2025-09-10T19:59:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chipotle-to-expand-to-asia-for-the-first-time-through-a-joint-venture-with-spc-group\\\/\"},\"wordCount\":975,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chipotle-to-expand-to-asia-for-the-first-time-through-a-joint-venture-with-spc-group\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/2769542\\\/CMG_Korean.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chipotle-to-expand-to-asia-for-the-first-time-through-a-joint-venture-with-spc-group\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chipotle-to-expand-to-asia-for-the-first-time-through-a-joint-venture-with-spc-group\\\/\",\"name\":\"CHIPOTLE TO EXPAND TO ASIA FOR THE FIRST TIME THROUGH A JOINT VENTURE WITH SPC GROUP - 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