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American multinational coffeehouse chain
Starbucks Corporation is an American multinational chain of coffeehouses and roastery reserves headquartered in Seattle, Washington. It was founded in 1971 by Jerry Baldwin, Zev Siegl, and Gordon Bowker at Seattle's Pike Place Market initially as a coffee bean wholesaler. Starbucks was converted into a coffee shop serving espresso-based drinks under the ownership of Howard Schultz, who was chief executive officer from 1986 to 2000 and led the aggressive expansion of the franchise across the West Coast of the United States.
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A move by Starbucks to buy the fast-casual Mexican chain would combine two of the most recognizable restaurant brands.
Chipotle jumped 6.21% on October 8 after a report that Starbucks explored a takeover. The Q3 guide it reports against on October 28 assumed one food scare would last all quarter and excluded the other.
Chipotle stock jumps on reports Starbucks explored a takeover.