This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Chipotle Is Betting on Pizza

NEW YORK (TheStreet) -- Chipotle Mexican Grill (CMG), the successful fast-casual burrito maker, is taking on a new challenge: Pizza.

The Denver-based company is backing a chain of upscale pizza restaurants known as Pizzeria Locale, which services artisan-style Neapolitan pizza.

Chipotle said in a release on Wednesday that it has partnered with Pizzeria Locale owners Bobby Stuckey and Lachlan Mackinnon-Patterson to launch a fast-casual concept under the pizza restaurant's name. The first location opened in May in Denver, with plans for two more there, Chipotle said.

The partners are planning a "slow, measured expansion" of the concept that "allows the restaurant to perfect the concept and service model, and to develop from within the people it will need to staff additional restaurants," the press release said.

Stuckey and Mackinnon-Patterson's other ventures, Frasca Food and Wine, and the original Pizzeria Locale, opened in early 2011, sit adjacent to each other in Boulder, Colo.. They aren't part of this partnership and are not affiliated in any way with Chipotle.

Chipotle shares were falling 0.22% to $511.49 on Wednesday.

Chipotle partners with Pizzeria Locale owners, Bobby Stuckey and Lachlan Mackinnon-Patterson, to create a fast-casual pizza concept.

Clearly the burrito-chain sees opportunity in retooling popular eats into a more Chipotle-like experience. That means high-quality ingredients, a quick and "interactive" service line like Chipotle and, of course, creating a cult-like following that means lines wrapped around the corner for a typical workday lunch experience.

The pizza concept will be Chipotle's third expansion into other food concepts. It currently operates six ShopHouse Southeast Asian Kitchen restaurants in Washington, D.C. and Los Angeles, with additional restaurants opening in the coming months, it said.

Pizzeria Locale's menu offers 10 "classic" pizzas, four American classics, or customer-created combinations from a selection of ingredients. Pizzas are fired in a high-temperature pizza oven that bakes the pizzas in less than two minutes. The restaurant also serves salads and sides including prosciutto and meatballs. Red or white Italian wine is available on tap, according to the press release.

"Bobby and Lachlan are extraordinary restaurateurs who truly understand what it takes to provide an exceptional dining experience," said Steve Ells, founder, chairman and co-CEO of Chipotle, in the press release. "I have known them for years and I thought their pizzeria in Boulder presented the perfect opportunity to collaborate. Opening Pizzeria Locale using a model similar to Chipotle allows us to make extraordinary pizza, made with high-quality ingredients accessible to everyone."

Ells was quick to note in the release that while the two other concepts are exciting, "our growth will continue to be driven for the foreseeable future by expanding the Chipotle brand within the U.S."

There currently are 1,550 Chipotle restaurants in the U.S.

-- Written by Laurie Kulikowski in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,172.68 -107.06 -0.62%
S&P 500 1,994.29 -16.11 -0.80%
NASDAQ 4,527.6890 -52.10 -1.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs