JDE Peet’s manages a portfolio of over 50 coffee and tea brands including Douwe Egberts and Tassimo | Photo credit: JDE Peet’s
Luxembourg-based private equity firm JAB Holding Company has agreed to acquire Mondelez International’s stake in coffee and tea group JDE Peet’s for €2.16bn ($2.3bn).
The transaction increases JAB Holding’s stake in JDE Peet’s to 68%.
In a press release, JAB Holding said it will distribute the remaining 32% of free float shares in JDE Peet’s to more than 70 limited partners of JAB Consumer Partners, it’s consumer fund.
“These transactions represent a major milestone for JDE Peet’s, which is now a more widely held blue chip company. JAB has strong conviction in the resilience of the global coffee sector and the long-term value creation prospects of JDE Peet’s. We are fully committed to remaining an anchor shareholder of the world’s leading pure-play coffee and tea company,” said Joachim Creus, CEO, JAB Holding Company.
The acquisition coincides with the appointment of former The Kraft Heinz Company CEO Rafael Oliveiraas JDE Peet’s new CEO, effective 1 November 2024.
JAB Holding first acquired California-based coffee roaster and café chain Peet’s Coffee for $977.6m in 2012. The following year, the investment firm purchased Dutch coffee group Douwe Egberts for $9.8bn before merging the businesses to form JDE Peet’s in December 2019.
JDE Peet’s manages a portfolio of over 50 coffee and tea brands including L’OR, Peet’s Coffee, Jacobs, Senseo, Tassimo, Douwe Egberts, OldTown, Super, Pickwick and Moccona.
Formed in 2012, JAB Holding Company has more than $50bn of managed capital with a focus on FMCG products, including coffee, soft drinks and confectionary, as well as hospitality brands and insurance.
JAB Holding is also the controlling shareholder in Panera Brands, a US restaurant group comprising the Panera Bread, Caribou Coffee and Einstein Bros. Bagels fast-casual chains, as well as UK-based coffee and food-to-go chain Pret A Manger and Swedish coffee chain Espresso House.
The investment firm also holds respective minority 44% and 34% stakes in doughnut and coffee chain Krispy Kreme and US coffee and soft beverages group Keurig Dr Pepper.
