Chipotle Expands to Asia for the First Time through Joint Venture with SPC Group.

Chipotle Mexican Grill is expanding to Asia for the first time through a joint venture with SPC Group. The partnership plans to open the first Chipotle restaurants in South Korea and Singapore in 2026. The expansion into Asia presents a growth opportunity for Chipotle, fueled by preferences for variety and convenience.

Chipotle Mexican Grill (NYSE: CMG) has announced its expansion into Asia, marking its first foray into the region. The company has entered into a joint venture with SPC Group to open Chipotle restaurants in South Korea and Singapore in 2026. This strategic move is part of Chipotle's ongoing efforts to capitalize on the growing demand for diverse and convenient dining options CHIPOTLE TO EXPAND TO ASIA FOR THE FIRST TIME THROUGH A JOINT VENTURE WITH SPC GROUP^[1].

The expansion into Asia follows Chipotle's recent international growth initiatives. In July 2023, the company signed an agreement with Alshaya Group to open restaurants in the Middle East, and in April 2025, it partnered with Alsea, S.A.B. de C.V. to open its first Mexican location in 2026 CHIPOTLE TO EXPAND TO ASIA FOR THE FIRST TIME THROUGH A JOINT VENTURE WITH SPC GROUP^[2]. As of June 30, 2025, Chipotle operates over 3,800 restaurants globally, with plans to open between 315 and 345 new restaurants this year, and a long-term target of 7,000 locations in the U.S. and Canada CHIPOTLE TO EXPAND TO ASIA FOR THE FIRST TIME THROUGH A JOINT VENTURE WITH SPC GROUP^[1].

The partnership with SPC Group is significant for Chipotle as it leverages SPC's regional market knowledge and operational expertise in developing global food brands in Asia. SPC Group owns 30 renowned brands and operates 7,000 stores worldwide, including notable brands such as Paris Baguette and Shake Shack CHIPOTLE TO EXPAND TO ASIA FOR THE FIRST TIME THROUGH A JOINT VENTURE WITH SPC GROUP^[1].

Chipotle's entry into South Korea and Singapore is strategic, given the markets' sophisticated dining consumers and existing brand familiarity, particularly among K-pop fans. The company has seen organic demand for its brand in these markets, evidenced by mentions from K-pop celebrities CHIPOTLE TO EXPAND TO ASIA FOR THE FIRST TIME THROUGH A JOINT VENTURE WITH SPC GROUP^[1].

The expansion into Asia presents a significant growth opportunity for Chipotle. The company's focus on real food, responsibly sourced ingredients, and a strong brand identity aligns well with the preferences of consumers in these markets. The partnership with SPC Group is expected to minimize capital investment risks while leveraging local market expertise CHIPOTLE TO EXPAND TO ASIA FOR THE FIRST TIME THROUGH A JOINT VENTURE WITH SPC GROUP^[2].

Forward-looking statements in this press release include the timing of openings in South Korea and Singapore, Chipotle's prospects for business in Asia, and its plans for new restaurant openings in the U.S. and Canada in 2025 and its long-term target of operating 7,000 locations in the U.S. and Canada. These statements are subject to risks and uncertainties, including those described in Chipotle's SEC reports CHIPOTLE TO EXPAND TO ASIA FOR THE FIRST TIME THROUGH A JOINT VENTURE WITH SPC GROUP^[1].