EXHIBIT 99
FOR IMMEDIATE RELEASE FOR MORE INFORMATION CONTACT:
2/10/98 Media: Xxxxx Xxxxxxx, 000-000-0000
Investors: Xxxx Xxxxx, 000-000-0000
McDONALD'S TO ACQUIRE MINORITY INTEREST IN
CHIPOTLE MEXICAN GRILL
OAK BROOK, IL -- McDonald's Corporation has reached an agreement in
principle to acquire a minority interest in World Foods, operator of
Chipotle Mexican Grill, a chain of 14 fresh Mexican food restaurants
currently serving customers in the Denver, CO, market. Terms of the
investment were not disclosed. The transaction is expected to close soon.
The balance of the company will be owned by Xxxxxx Xxxx, founder,
president and chief executive officer of Chipotle Mexican Grill, and
others.
"This investment will mean no change in McDonald's USA strategy of growing
our hamburger restaurant business. McDonald's is making an
opportunistically-driven minority investment in a small restaurant concept
that has a strong customer following and an excellent performance record,"
commented Xxxxxxx Xxxxx, executive vice president of McDonald's USA, and
relationship partner to Chipotle Mexican Grill.
"McDonald's grew to what it is today by testing new ways to meet our goal
of satisfying customer's appetite for great food, served well, at a good
value. By testing new ideas and evaluating results, we expand our body of
knowledge about the foodservice business. Chipotle Mexican Grill is
another opportunity to gain such learnings," Xxxxx continued.
(more)
"If after a period of development and evaluation, the business
demonstrates sufficient growth potential and appeal, it would be our
strategy to create additional franchising opportunities for McDonald's
franchisees within the concept." Xxxxx concluded.
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