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Starbucks is ‘not buying Chipotle,’ company says
NBC News • • general
Key Points:
- Starbucks has officially denied reports that it is planning to acquire Chipotle Mexican Grill, stating it is not buying the fast-casual chain.
- The denial follows a Financial Times report claiming Starbucks had explored a takeover and hired advisers for a potential bid.
- Starbucks emphasized its focus on executing its "Back to Starbucks" strategy and preparing to release financial results later in October.
- A merger would have been significant, reuniting Starbucks CEO Brian Niccol with Chipotle, where he previously served as CEO until late 2024.
- While Starbucks shares have risen 15% over the past year amid a turnaround effort, Chipotle’s shares have fallen 20%, reflecting differing company trajectories.
