Starbucks says it is not buying Chipotle, putting an end to recent takeover speculation. Multiple outlets report that a Starbucks spokesperson denied the prospect, and the announcement leads to a decline in Chipotle’s stock in early trading.
Several reports note that a potential deal would have combined two major restaurant chains and created a larger company with roughly US$50 billion in annual sales, according to one outlet. However, outlets frame the current development as a clarification from Starbucks rather than a confirmed transaction, with speculation being “quashed” after the company’s denial.
While coverage varies in emphasis—some focus on the impact on Chipotle’s shares and others on what the combined business would have looked like—sources agree on the central point: Starbucks is not pursuing an acquisition of Chipotle at this time.
