Starbucks has explored a takeover of Chipotle Mexican Grill, an ambitious gambit to unite two of America's best-known brands in a deal that would rank as the biggest-ever tie-up in the restaurant sector. The world's leading coffee shop chain has worked with advisers in recent months on a takeover proposal for Chipotle, a burrito chain with a nearly $39bn market value, according to people familiar with the matter. The status of Starbucks' takeover plans and whether the company has submitted any formal offer to Chipotle could not be determined, and the people warned that a transformative deal of this size might never get off the ground given the complexity of combining two consumer giants. A potential takeover of Chipotle would eclipse Burger King's $11.4bn acquisition of Canadian coffee-and-doughnut chain Tim Hortons in 2014, and would create a combined company with almost $50bn in sales last year. The early-stage plans would also reunite Brian Niccol, Starbucks' chief executive, with the fast-food chain where he made his name over a six-year stint as chief executive; since Niccol left Chipotle in August 2024, its stock has nearly halved in value. Starbucks declined to comment, and Chipotle did not immediately respond to a request for comment.
Chipotle Mexican Grill IncStarbucks explored a takeover of Chipotle, a potential M&A event that could lift Chipotle's shares.
Starbucks CorporationStarbucks worked with advisers on a takeover proposal for Chipotle, an early-stage M&A gambit of uncertain outcome.
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