Starbucks says not buying Chipotle, ends takeover speculation
SBUX•Starbucks said it is not buying Chipotle, ending speculation about a deal that could have created a restaurant company with about $50 billion in annual sales. Starbucks shares rose 1% in early trading, while Chipotle shares fell about 3%.
1. Starbucks denies deal
Starbucks said it is not buying Chipotle Mexican Grill, quashing speculation about what could have been the largest restaurant deal on record. A Starbucks spokesperson said the company does not comment on rumors but wanted to be clear it was not buying Chipotle; Chipotle declined to comment.
2. Speculation and strategy
The speculation followed a report that Starbucks had worked with advisers in recent months on a potential offer. A deal could have brought together two major U.S. restaurant brands with about $50 billion in annual sales. Starbucks said management remains focused on its “Back to Starbucks” strategy and expects to share fourth-quarter results and fiscal 2027 guidance later this month.
