Portillo's, the famed Chicago-based fast casual restaurant chain known for its Italian beef, hot dogs and chocolate cake shakes, could dramatically expand its growing footprint in the coming decades.
In a phone call with investors on Tuesday, Michael Osanloo, the company's president, CEO and director, announced an aggressive expansion strategy to add 920 restaurants across the country in the next 20 years. Of those, 800 would be full-scale restaurants, while 120 would be pick-up or drive-thru locations -- without a dining area.
Portillo's currently operates around 70 restaurants, with dozens across the Chicago area and others in Michigan, Wisconsin, California, Florida, Arizona and Texas.
The chain remains focused on expanding throughout the Sunbelt, building additional locations in Arizona, Florida and Texas.
"We've opened 10 in the Sunbelt so far," Osanloo explained. "We're very, very happy with those results, and we think that this is where we are going to be pushing very hard for the next decade."
After that, the attention will turn to Atlanta, Georgia, Denver, Colorado and Las Vegas, Nevada, three areas where Portillo's has seen high demand, based on data from online "Shop and Ship" orders.
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Unlike its previous strategy of entering markets adjacent to Chicago, the company is now "going where the growth is," according to executives.
"We're going where people are," Osanloo said. "We're going where people are moving. We're going where people are demanding our food. And so, that is our strategy is to go where the growth is."
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Established in 1963 with just a small hotdog stand in suburban Villa Park, Portillo's mainly operates full-size restaurants, but opened its first pick-up only location in February 2022 in Joliet.
