Tag: $Chipotle

Starbucks on Monday denied that it is considering acquiring Chipotle Mexican Grill in what would be the biggest ever restaurant takeover. “Starbucks is not buying Chipotle,” a Starbucks spokesperson told CNBC’s Jim Cramer.

Chipotle Mexican Grill’s stock jumped as much as 8% on Thursday after the Financial Times reported that Starbucks has explored a deal to buy the “fast-casual” restaurant chain. A potential merger would represent one of the largest restaurant acquisitions in history, according to industry analysts.

Chipotle Mexican Grill on Wednesday reported weaker-than-expected quarterly revenue after its same-store sales declined for the first time since 2020.

Starbucks announced Tuesday it’s replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol.

Chipotle’s third-quarter earnings topped Wall Street’s estimates.