Starbucks Denies Chipotle Acquisition Plans

• Starbucks has denied a report that it was exploring a deal to buy Chipotle.
• The report claimed Starbucks considered buying the burrito chain.
• Starbucks stated it is focused on organic growth and not pursuing a bid for Chipotle.
• Multiple news outlets reported on Starbucks' refutation of the acquisition plans.
• The denial came as a surprise to many industry observers.