News

Peet's Coffee merging wtih Jacobs Douwe Egberts, exploring IPO

December 18, 2019

Berkeley, California-based Peet's Coffee has joined forces with Netherlands-based Jacobs Douwe Egberts to explore an IPO. The company — now called JDE Peet's — will be available in more than 140 countries and have revenues of approximately 7 billion euro ($7.8 billion). Besides Peet's Coffee, the company also has several global brands — L'OR, Jacobs Coffee, Douwe Egberts, Senseo, Tassimo, Moccona, Kenco, Pickwick and Pilão, according to a company press release.

The exploration of an IPO is a key milestone in the partnership between Acorn Holdings B.V., which includes controlling shareholder JAB and BDT Capital, and Mondelez International. Peet's Coffee CEO Casey Keller will become CEO of JDE Peet's, effective January 2020, and Frederic Larmuseau, who will step down as CEO of JDE, will remain at JDE as a special adviser to the Board and the CEO.

"We are excited that Casey will assume the role as CEO of JDE Peet's as we continue further building upon the company's strong track record of growth and expansion," Olivier Goudet, chairman of JDE and Chairman of Peet's Coffee, said in the release. "We are proud of what we have accomplished at JDE and Peet's but believe with our IPO the best years of growth and shareholder value creation are ahead of us with our newly combined company. I want to thank Frederic for his stewardship in driving JDE's growth and development."

Depending on market conditions, the IPO is expected to be completed sometime during 2020, after which JAB expects to remain the controlling shareholder, according to the release.