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Aug. 19, 2021, 8:57 a.m. EDT

Chipotle tests plant-based chorizo in Denver and Indianapolis

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By Tonya Garcia

Chipotle Mexican Grill Inc. /zigman2/quotes/200781108/composite CMG -2.80% said Thursday that it will test plant-based chorizo in two markets: Denver and Indianapolis. The fast-casual chain's plant-based chorizo recipe includes ancho chili and chipotle peppers, garlic and protein from peas. This is the first plant-based item on the Chipotle menu since Sofritas in 2014. Plant-based chorizo is going through Chipotle's Stage-Gate process, which is used to determine menu additions. The company has applied Stage-Gate to items like the quesadilla, cilantro-lime cauliflower rice and carne asada. Chipotle stock has run up 33.5% for the year to date while the benchmark S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.11% is up 17.2% for the period.

/zigman2/quotes/200781108/composite
US : U.S.: NYSE
$ 1,792.21
-51.62 -2.80%
Volume: 591,113
Oct. 22, 2021 4:02p
P/E Ratio
87.21
Dividend Yield
N/A
Market Cap
$50.35 billion
Rev. per Employee
$68,007
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/zigman2/quotes/210599714/realtime
US : S&P US
4,544.90
-4.88 -0.11%
Volume: 1.82B
Oct. 22, 2021 5:04p
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