Peet's Coffee
Peet's Coffee & Tea said on Monday it is set to be acquired by Joh. A. Benckiser for about $1 billion, a move that would give Peet's a financial jolt as it competes against larger coffee and tea shops, and which would also broaden the reach of Germany's Reimann family.

The offer price of $73.50 per share in cash represents a premium of nearly 29% over Peet's (PEET) July 20 closing stock price of $57.16.

Peet's, a specialty coffee and tea company, was founded in 1966 and competes with chains such as Starbucks Corp.

Joh. A. Benckiser, the investment vehicle for the Reimann family of Germany, owns stakes in companies such as household products maker Reckitt Benckiser (RBGPY.PK) and fragrance and cosmetics company Coty.

Along with Benckiser, BDT Capital is participating in the Peet's deal as an adviser and minority investor. Chicago-based BDT Capital was founded by Byron Trott, a long-time confidant of Warren Buffett.


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raidrmik67

Even diluted with 50% water Peet's coffee taste terrible, give me a cup of Yuban over Starcrap or Peet's any day of the week.

July 24 2012 at 8:05 AM Report abuse rate up rate down Reply
howwil

Well, this is likely to mean the demise of the best coffee chain in the land. I can't help saying this, as I remember when there was a single Starbucks in the world and they actually had strong quality control and excellent pastry offerings. The larger they have grown, the more dumbed-down their offerings have become. Colonel Sanders said the same about KFC after he sold out.

July 24 2012 at 8:02 AM Report abuse rate up rate down Reply
lifehub

They may as well buy up everything else USA for the dead economy.

July 24 2012 at 4:16 AM Report abuse rate up rate down Reply
riveracj2

Just wondering, do the germans know diddly about Coffee?

July 24 2012 at 4:08 AM Report abuse rate up rate down Reply
joe

Peyters Kaffee schmeckt gut.

July 24 2012 at 2:50 AM Report abuse rate up rate down Reply
dsteph100

Never heard of Peets Coffee.

July 24 2012 at 2:49 AM Report abuse rate up rate down Reply
SPQR

for a billion dollars I would sell my wife

July 23 2012 at 10:21 PM Report abuse rate up rate down Reply
SPQR

most of the blends that starbucks sells suck and is too expensive. However, they do have a few good ones but impossible to find anymore

July 23 2012 at 10:20 PM Report abuse rate up rate down Reply
SPQR

Peets is good but overrated

July 23 2012 at 10:19 PM Report abuse rate up rate down Reply
Norma

I could care less and besides I never heard of this Peet's coffee just give me a couple of Folgers or any thing that is ok with me

July 23 2012 at 8:46 PM Report abuse rate up rate down Reply
1 reply to Norma's comment
zurrix

Peets is 10x better than Folgers, no 20x better

July 23 2012 at 10:13 PM Report abuse -1 rate up rate down Reply