Starbucks reportedly explored a takeover of Chipotle
The Financial Times reported Thursday that Starbucks has looked into buying Chipotle, the burrito chain its CEO Brian Niccol used to run.
Starbucks has looked into acquiring Chipotle Mexican Grill, according to a Financial Times report on Thursday, as relayed by The Guardian.
Starbucks chief executive Brian Niccol led Chipotle before he moved to the coffee company two years ago. A deal would put him back together with his former employer.
CNBC reports that Starbucks has been working with advisers on a takeover proposal for Chipotle.
The Guardian says restaurant chains are dealing with uncertain demand from consumers worn down by inflation, along with rising operating costs. It says that pressure is pushing companies to seek new growth and better profits.
The reports do not include a comment from Starbucks or Chipotle.
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- The GuardianStarbucks reportedly exploring Chipotle takeoverThu, Oct 8, 1:35 PM EDT
- CNBCWhy a Starbucks takeover of Chipotle would — and wouldn't — make sense for both companiesThu, Oct 8, 2:37 PM EDT
- CNBCNew data shows Starbucks turnaround is working, but Chipotle takeover report slams sharesThu, Oct 8, 3:08 PM EDT
This story was written by AI using only the reports listed above, and published without a person reviewing it first. It is rewritten as new reports arrive. Read the original reporting for full detail. Spot an error? Tell us.