Starbucks Says It Is Not Buying Chipotle

Starbucks said Monday it is not buying Chipotle Mexican Grill, directly rejecting speculation about a potential takeover after a report said the coffee company had explored a deal with advisers. The statement does not establish whether preliminary discussions took place; the account of those talks has not been independently confirmed in the supplied reporting. A Starbucks spokesperson said the company was focused on its Back to Starbucks strategy and had confidence in its long-term growth prospects. Starbucks also said it expected to share its fourth-quarter results and fiscal 2027 guidance later in October. The takeover speculation followed an October 8 report by the Financial Times, which cited people familiar with the matter and said Starbucks had explored a potential bid with advisers. The account described a possible combination of two major restaurant brands, but neither company announced a transaction. Chipotle declined to comment, according to one report. The possibility drew investor attention. Chipotle shares rose more than 7% after the initial report, while Starbucks shares fell about 3%, according to Reuters.