McDonald's has fully divested its shares in 500-unit Chipotle Mexican Grill, a company it bought in 1998 when it was 15 units strong.
McDonald's grew to become Chipotle's largest investor in 2001.
According to a news release, Chipotle was the first concept McDonald's had ever purchased.
"McDonald's original investment represented a strong vote of confidence in what Chipotle was doing at the time," said Steve Ells, founder chairman and chief executive of Chipotle, who sought McDonald's as an investor to help finance the growth of his small burrito chain. "They have been a terrific partner for us, providing needed capital, shared access to other resources as needed, and also the autonomy to pursue our vision."
According to CIBC World Markets, Chipotle is leading a trend that emphasizes natural and organic foods. CIBC cites Chipotle's focus on Food with Integrity as a reason for the brand's success, particularly in a marketplace in which organic and natural foods are a $25 billion to $30 billion industry.
"The focus on our vision is as sharp as it has ever been and we remain disciplined in pursuing each new step in this journey," said Ells. "We're proud that we've been able to build a supply chain for these superior ingredients, but we recognize that providing Food with Integrity is a journey, a process of constantly looking to make better choices about the food we serve, and we're committed to doing just that."
