Chipotle to Expand in Europe

New York City Chipotle Mexican Grill Monday announced plans to enter the European market with the opening of its first location in London late this year, according to Rocky Mountain News.

Chipotle said it will use the U.K. restaurant as a base for European expansion, although the company expects to continue to focus the majority of its growth in the United States, the report said.

“We plan to open one restaurant in London before the end of 2009, find a group of farmers and ranchers who can supply us with the highest quality food and begin to find a group of top-performing managers who can help us establish a very special Chipotle brand in Europe," said Steve Ells, Chipotle founder and CEO, in a statement.

In other news, Chipotle announced the promotion of president and COO Monty Moran to co-CEO. He will share the title with Ells.