(Ian Ritter is national online editor for GlobeSt.com/RETAIL.)
OAK BROOK, IL-McDonald's executives plan to file an IPO for Chipotle Mexican Grill, the popular fast-casual concept in which they own a minority interest, next month. They plan to launch the offering during next year's first quarter to "optimize Chipotle's potential and create additional value for McDonald's shareholders."
McDonald's acquired the Denver-founded, 460-store chain in 2002. McDonald's also owns the Boston Market restaurant chain.
McDonald's does not break out Chipotle's financial performance, but it and other non-McDonald's chains owned by the company posted $330.4 million in revenue during its latest financial quarter, which ended June, compared to $285.8 million in the same year-ago period. The income from those restaurants was $6 million.
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