Emeryville-based Peet’s Coffee & Tea Acquired By German Company
Emeryville-based Peet’s Coffee & Tea is about to enter a new chapter.
Check out this article called “German company buys Peet’s Coffee for nearly $1 billion, will take it private” by John Boudreau to learn about the change that’s coming to Peet’s Coffee…
“A German conglomerate announced Monday it is acquiring Emeryville-based Peet’s Coffee & Tea for nearly $1 billion, giving the pioneering premium coffee-maker more financial muscle to compete against larger rival Starbucks.”
“Joh. A. Benckiser, the investment arm for the Reimann family of Germany, indicated it will keep Peet’s current leadership. While lovers of Peet’s dark-roasted coffees shouldn’t see any changes, shareholders of the company are enjoying a financial jolt from the $73.50-a-share-deal, a premium of nearly 29 percent over Peet’s July 20 closing stock price of $57.16. On Monday, shares of Peet’s surged nearly 28 percent, closing at $73.05.”
Click here to continue reading and learn what this means for Peet’s Coffee on ContraCostaTimes.com…
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