Pershing Square Investment Opens Door for More Transformative Changes at Chipotle but Will Take Time
We don't find the news that Pershing Square has acquired a 9.9% stake in Chipotle terribly surprising, given Bill Ackman's previous involvement with limited-service restaurant chains (McDonald's and Burger King) and market whispers of potential activist investor interest swirling this summer. According to the 13D filing disclosing the stake, Pershing Square believes Chipotle's stock is "undervalued and is an attractive investment" and plans to engage in discussions with the company about "govern...Chipotle Mexican Grill together with its subsidiaries operates Chipotle Mexican Grill restaurants, which feature a menu of burritos, burrito bowls (a burrito without the tortilla), tacos, and salads. The company operates Chipotle restaurants throughout the United States, international Chipotle restaurants, and non-Chipotle restaurants. The company uses various herbs, spices and seasonings to prepare its meats and vegetables. The company also serves tortilla chips that seasoned with lime juice and salt, with sides of hand mashed guacamole, salsas, or queso. In addition to sodas, fruit and tea drinks, and organic milk, most of the company's restaurants also provide a selection of beer and margaritas.
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