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Mcdonald’s and Chipotle are two of the biggest names in fast food, and they were once partners.
In 1998, McDonald’s made an investment in Chipotle and helped grow it from fourteen locations to nearly five hundred in just seven years. According to Business Insider, by 2005, McDonald’s had a ninety percent stake in Chipotle’s business. But a year later the golden arches parted ways with the grill.
Now Chipotle’s sales are surging while McDonald’s struggles to keep up with the competition. According to Business Insider, the CEO was recently asked about letting go of their control of the company. He said it was because McDonald’s and Chipotle approach food and customers in two different ways.
McDonald’s also wanted Chipotle to franchise some restaurants which it did reluctantly but some of the other proposed charges didn’t fly. Chipotle refused to do drive-thrus, start serving breakfast or change their name. They didn’t see a need and so didn’t offer it.
Company executives say they wanted to put all their focus into cheeseburgers instead of burrito bowls, sometimes recipes just don’t mix.
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CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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"The Technology Tornado: Media & Communications in the Modern Era"
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August 28th, 2019
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