Chipotle Jumps on Report Starbucks Has Explored Takeover
Bloomberg 2026-10-08 21:28:48
Context: Shares of Chipotle Mexican Grill surged following a report that Starbucks Corp. had explored a takeover proposal for the burrito chain, working with advisers on the potential deal in recent months. The status of the plans remains unclear, and it's uncertain whether a mega deal of this size will materialize. Brian Niccol, current Starbucks CEO, has a past connection to Chipotle, having served as its top executive from 2017 to 2024.
Key Facts
- Shares of Chipotle Mexican Grill jumped after a report that Starbucks Corp. had worked with advisers on a takeover proposal for the burrito chain.
- Starbucks CEO Brian Niccol previously served as Chipotle's top executive from 2017 to 2024, leading a period of rapid growth.
- The status of the takeover plans couldn't be immediately learned, according to people familiar with the matter cited by the Financial Times.