Starbucks said it is not pursuing an acquisition of Chipotle Mexican Grill, rejecting reports that it had explored a deal for the restaurant chain. A spokesperson told CNBC's Jim Cramer that "Starbucks is not buying Chipotle," after the Financial Times reported that the company had spent months working with advisers on a possible offer. Starbucks shares rose 1.61% to $92.21 on Monday, while Chipotle shares moved lower after the denial. Investors had viewed a potential acquisition as a costly distraction from Starbucks' turnaround under CEO Brian Niccol, who previously led Chipotle. Chipotle is recovering from weaker customer traffic in 2025 and its shares have fallen about 20% over the past year.