The denial follows a Financial Times report on Oct. 8 stating that Starbucks had worked with advisers on a proposal for Chipotle, which has a market value of nearly $39B. A merger would have created a firm with combined annual sales of almost $50B and seen CEO Brian Niccol return to the company he managed from 2018 to 2024. Analysts at D.A. Davidson had pegged the likelihood of such a transformative acquisition at 20%, noting that Starbucks typically focuses on integrating smaller brands.
Wednesday, October 21, 2026
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Starbucks Denies Chipotle Takeover as Speculation on $39B Deal Ends
Business9 days ago
Shares of the Mexican grill chain fell on Oct. 12 after a company spokesperson told CNBC that the coffee giant is not pursuing an acquisition of the business. Starbucks is instead concentrating on a turnaround strategy known as "Back to Starbucks" to establish long-term growth momentum ahead of its fourth-quarter results and FY 27 guidance due later this month.
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