Overview

• Chipotle has signed a development agreement with Alsea to open its first restaurant in Mexico by early 2026.
• This marks Chipotle's first move into Latin America, with plans to explore additional markets in the region.
• The expansion comes as U.S.-Mexico trade tensions persist, with tariffs impacting key ingredients like tomatoes but not avocados, half of which Chipotle sources from Mexico.
• Chipotle's international footprint already includes locations in Canada, Europe, and the Middle East, with recent growth driven by strategic partnerships.
• The company aims to adapt its California-style offerings to local tastes, a challenge that has hindered past attempts by U.S. brands like Taco Bell in Mexico.