- Starbucks Corp.
- 12 October 2026 17:29:11
Source: Sharecast
A spokesperson for the coffee chain said: "As a matter of policy, we don't comment on rumours and speculation, but we want to be clear we are not buying Chipotle."
The statement came after the Financial Times reported last week that Starbucks had explored a deal.
At 1725 BST, Chipotle shares were down 4.3% at $30.24, while Starbucks was 1.7% higher at $92.30.
Danni Hewson, head of financial analysis at AJ Bell, said: "Investors made their feelings clear after Starbucks moved to quash ongoing rumours that it was interested in acquiring Chipotle Mexican Grill.
"Reports that the coffee chain had explored a potential tie-up carried considerable weight because the current CEO of Starbucks had previously been the boss of Chipotle, so would have a unique perspective on how the two businesses could integrate. But today it was made crystal clear that Starbucks wasn’t pursuing the taco chain, sending its shares higher and Chipotle’s shares down.
"At first glance a merged business would give both companies the leverage of scale, but just because both are hospitality businesses doesn’t mean they would easily fit together. The two serve a very different purpose and whilst Starbucks is enjoying the momentum of change, Chipotle has seen its shares slide in the past year.
"Starbucks boss Brian Niccol has made difficult decisions which appear to be paying off for the iconic coffee chain, so it makes sense that investors want to see the transformation delivered before he splits his focus and spends cash that may be better served elsewhere."