A recent report suggested that Starbucks could be planning a takeover of Chipotle.
The popular coffee chain was said to be exploring a megadeal takeover of the Mexican Grill food chain, which would mark the largest restaurant acquisition of all time, according to Financial Times.
What has been said about a Starbucks takeover of Chipotle
Per the publication’s report, Starbucks was working with advisers on a proposal to acquire the food chain with a $41 billion market value.
This would also mark a reunion between current Starbucks CEO Brian Niccol, who previously served as CEO of Chipotle for six years before going to the coffee chain in fall 2024.
Is Starbucks really acquiring Chipotle?
Short answer, no.
A Starbucks spokesperson confirmed to CNBC‘s Jim Cramer, “Starbucks is not buying Chipotle.”
CNBC reports that the rumors of the takeover saw Chipotle shares go up, while shares for Starbucks went down.
However, the site says that Starbucks shareholders were concerned about such an expensive distraction as they are currently in the midst of their own turnaround.
What is Starbucks focused on right now?
“Our team is laser focused on executing our Back to Starbucks strategy,” a Starbucks spokesperson said in a statement to People. “We have strong momentum and confidence in our long-term growth potential. We look forward to sharing our Q4 results, including FY27 guidance, later this month.”
The Back to Starbucks strategy has been spearheaded by CEO Brian Niccol to get the company back to what made it “an iconic and beloved brand.”
“We’ve made tremendous progress,” he said in a message. “What we set out to do was give people the best of Starbucks — the Starbucks experience they know and love. I think our partners have stepped up. I think they’ve delivered on the fundamentals.”
What are those fundamentals?
“Great coffee, made exactly the way a customer wants it. An innovative menu that’s exciting and on trend. Terrific customer service. Partners that are set up for success, so they can connect with customers and create a warm and welcoming coffeehouse atmosphere, whether someone stays for a few minutes or settles in for an afternoon in a comfortable chair with their ceramic mug.”
Starbucks recently teased their 2026 holiday menu, which will officially launch on November 5th.
The holiday menu will feature the tiramisu velvet latte, apple pomegranate refresher, sugar cookie latte, caramel brulee latte, gingerbread chai latte, and the peppermint mocha drink.
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