Chipotle Clarifies Relationship with Cereplast, Inc.
Denver,(BUSINESS WIRE) -- Chipotle Mexican Grill (NYSE: CMG) (NYSE: CMG.B) today clarified the nature of its relationship with Cereplast, Inc. (OTCBB: CERP), a Hawthorne, Calif. company that manufactures proprietary bio-based, sustainable plastics.
Currently, through a supplier, Chipotle purchases plastic cutlery made using Cereplast Compostables(R) resin for its one restaurant in Millbrae, Calif. to comply with a local ordinance. In a Dec. 15 press release, which was not reviewed or approved by Chipotle, Cereplast misstated the nature of the relationship, stating that "A system-wide rollout of up to 800 Chipotle locations is expected in the near future."
Chipotle currently has no plans to expand its relationship with Cereplast.
Chipotle Mexican Grill offers a focused menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads made from fresh, high-quality raw ingredients, prepared using classic cooking methods and served in a distinctive atmosphere. Through our vision of Food with Integrity, Chipotle is seeking better food not only from using fresh ingredients, but ingredients that are sustainably grown and naturally raised with respect for the animals, the land, and the farmers who produce the food. Chipotle opened its first restaurant in 1993 and currently operates more than 800 restaurants.
SOURCE: Chipotle Mexican Grill