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Peet's Coffee & Tea Sold for $977.6 Million

Peet's Coffee & Tea Sold for $977.6 Million

The coffee chain went private, but Starbucks didn't get a sip

In the world of competing coffee chains, Peet's Coffee & Tea and Starbucks may just be sister stores. Apparently, Peet's founder Alfred Peet sold the Starbucks founders coffee beans when Starbucks launched.

But it looks like Peet's is going private, and the brand wasn't picked up by rival Starbucks (which seems to be snatching up everything these days). The LA Times reports that the coffee shop chain was sold to German conglomerate Joh. A. Benckiser, who shelled out $977.6 million for the brand (or $73.50 a share).

Benckiser also holds a large stake in Coty Inc., which produces OPI nail polish and celeb scents, as well as Labelux (of Jimmy Choo and Bally). Apparently the deal will close in three months, so perhaps we will see some perfume/coffee pairings in the works? Or probably not. But we're definitely looking forward to more loose-leaf teas around town, if Peet's decides to go big.


Peet’s Coffee Sold For Nearly $1B To German Conglomerate

EMERYVILLE (CBS/AP) — Peet’s Coffee & Tea is being taken private for approximately $977.6 million.

German conglomerate Joh. A. Benckiser will pay $73.50 per share, which is a 29 percent premium to Peet’s Friday closing stock price of $57.16. The companies put the deal’s total value at about $1 billion.

BDT Capital is a minority investor in the deal.

KCBS’ Jeffrey Schaub Reports:

Peet’s Coffee & Tea Inc. has about 13.3 million outstanding shares, according to FactSet. The current management and employees will remain with the company and its headquarters will remain in Emeryville, Calif.

The acquisition, which was unanimously approved by Peet’s board, is expected to close in about three months. A majority of Peet’s outstanding stock must be voted in favor of the deal at an upcoming special shareholders meeting.

(Copyright 2012 by CBS San Francisco. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Peet’s Coffee Sold For Nearly $1B To German Conglomerate

EMERYVILLE (CBS/AP) — Peet’s Coffee & Tea is being taken private for approximately $977.6 million.

German conglomerate Joh. A. Benckiser will pay $73.50 per share, which is a 29 percent premium to Peet’s Friday closing stock price of $57.16. The companies put the deal’s total value at about $1 billion.

BDT Capital is a minority investor in the deal.

KCBS’ Jeffrey Schaub Reports:

Peet’s Coffee & Tea Inc. has about 13.3 million outstanding shares, according to FactSet. The current management and employees will remain with the company and its headquarters will remain in Emeryville, Calif.

The acquisition, which was unanimously approved by Peet’s board, is expected to close in about three months. A majority of Peet’s outstanding stock must be voted in favor of the deal at an upcoming special shareholders meeting.

(Copyright 2012 by CBS San Francisco. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Peet’s Coffee Sold For Nearly $1B To German Conglomerate

EMERYVILLE (CBS/AP) — Peet’s Coffee & Tea is being taken private for approximately $977.6 million.

German conglomerate Joh. A. Benckiser will pay $73.50 per share, which is a 29 percent premium to Peet’s Friday closing stock price of $57.16. The companies put the deal’s total value at about $1 billion.

BDT Capital is a minority investor in the deal.

KCBS’ Jeffrey Schaub Reports:

Peet’s Coffee & Tea Inc. has about 13.3 million outstanding shares, according to FactSet. The current management and employees will remain with the company and its headquarters will remain in Emeryville, Calif.

The acquisition, which was unanimously approved by Peet’s board, is expected to close in about three months. A majority of Peet’s outstanding stock must be voted in favor of the deal at an upcoming special shareholders meeting.

(Copyright 2012 by CBS San Francisco. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Peet’s Coffee Sold For Nearly $1B To German Conglomerate

EMERYVILLE (CBS/AP) — Peet’s Coffee & Tea is being taken private for approximately $977.6 million.

German conglomerate Joh. A. Benckiser will pay $73.50 per share, which is a 29 percent premium to Peet’s Friday closing stock price of $57.16. The companies put the deal’s total value at about $1 billion.

BDT Capital is a minority investor in the deal.

KCBS’ Jeffrey Schaub Reports:

Peet’s Coffee & Tea Inc. has about 13.3 million outstanding shares, according to FactSet. The current management and employees will remain with the company and its headquarters will remain in Emeryville, Calif.

The acquisition, which was unanimously approved by Peet’s board, is expected to close in about three months. A majority of Peet’s outstanding stock must be voted in favor of the deal at an upcoming special shareholders meeting.

(Copyright 2012 by CBS San Francisco. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Peet’s Coffee Sold For Nearly $1B To German Conglomerate

EMERYVILLE (CBS/AP) — Peet’s Coffee & Tea is being taken private for approximately $977.6 million.

German conglomerate Joh. A. Benckiser will pay $73.50 per share, which is a 29 percent premium to Peet’s Friday closing stock price of $57.16. The companies put the deal’s total value at about $1 billion.

BDT Capital is a minority investor in the deal.

KCBS’ Jeffrey Schaub Reports:

Peet’s Coffee & Tea Inc. has about 13.3 million outstanding shares, according to FactSet. The current management and employees will remain with the company and its headquarters will remain in Emeryville, Calif.

The acquisition, which was unanimously approved by Peet’s board, is expected to close in about three months. A majority of Peet’s outstanding stock must be voted in favor of the deal at an upcoming special shareholders meeting.

(Copyright 2012 by CBS San Francisco. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Peet’s Coffee Sold For Nearly $1B To German Conglomerate

EMERYVILLE (CBS/AP) — Peet’s Coffee & Tea is being taken private for approximately $977.6 million.

German conglomerate Joh. A. Benckiser will pay $73.50 per share, which is a 29 percent premium to Peet’s Friday closing stock price of $57.16. The companies put the deal’s total value at about $1 billion.

BDT Capital is a minority investor in the deal.

KCBS’ Jeffrey Schaub Reports:

Peet’s Coffee & Tea Inc. has about 13.3 million outstanding shares, according to FactSet. The current management and employees will remain with the company and its headquarters will remain in Emeryville, Calif.

The acquisition, which was unanimously approved by Peet’s board, is expected to close in about three months. A majority of Peet’s outstanding stock must be voted in favor of the deal at an upcoming special shareholders meeting.

(Copyright 2012 by CBS San Francisco. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Peet’s Coffee Sold For Nearly $1B To German Conglomerate

EMERYVILLE (CBS/AP) — Peet’s Coffee & Tea is being taken private for approximately $977.6 million.

German conglomerate Joh. A. Benckiser will pay $73.50 per share, which is a 29 percent premium to Peet’s Friday closing stock price of $57.16. The companies put the deal’s total value at about $1 billion.

BDT Capital is a minority investor in the deal.

KCBS’ Jeffrey Schaub Reports:

Peet’s Coffee & Tea Inc. has about 13.3 million outstanding shares, according to FactSet. The current management and employees will remain with the company and its headquarters will remain in Emeryville, Calif.

The acquisition, which was unanimously approved by Peet’s board, is expected to close in about three months. A majority of Peet’s outstanding stock must be voted in favor of the deal at an upcoming special shareholders meeting.

(Copyright 2012 by CBS San Francisco. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Peet’s Coffee Sold For Nearly $1B To German Conglomerate

EMERYVILLE (CBS/AP) — Peet’s Coffee & Tea is being taken private for approximately $977.6 million.

German conglomerate Joh. A. Benckiser will pay $73.50 per share, which is a 29 percent premium to Peet’s Friday closing stock price of $57.16. The companies put the deal’s total value at about $1 billion.

BDT Capital is a minority investor in the deal.

KCBS’ Jeffrey Schaub Reports:

Peet’s Coffee & Tea Inc. has about 13.3 million outstanding shares, according to FactSet. The current management and employees will remain with the company and its headquarters will remain in Emeryville, Calif.

The acquisition, which was unanimously approved by Peet’s board, is expected to close in about three months. A majority of Peet’s outstanding stock must be voted in favor of the deal at an upcoming special shareholders meeting.

(Copyright 2012 by CBS San Francisco. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Peet’s Coffee Sold For Nearly $1B To German Conglomerate

EMERYVILLE (CBS/AP) — Peet’s Coffee & Tea is being taken private for approximately $977.6 million.

German conglomerate Joh. A. Benckiser will pay $73.50 per share, which is a 29 percent premium to Peet’s Friday closing stock price of $57.16. The companies put the deal’s total value at about $1 billion.

BDT Capital is a minority investor in the deal.

KCBS’ Jeffrey Schaub Reports:

Peet’s Coffee & Tea Inc. has about 13.3 million outstanding shares, according to FactSet. The current management and employees will remain with the company and its headquarters will remain in Emeryville, Calif.

The acquisition, which was unanimously approved by Peet’s board, is expected to close in about three months. A majority of Peet’s outstanding stock must be voted in favor of the deal at an upcoming special shareholders meeting.

(Copyright 2012 by CBS San Francisco. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Peet’s Coffee Sold For Nearly $1B To German Conglomerate

EMERYVILLE (CBS/AP) — Peet’s Coffee & Tea is being taken private for approximately $977.6 million.

German conglomerate Joh. A. Benckiser will pay $73.50 per share, which is a 29 percent premium to Peet’s Friday closing stock price of $57.16. The companies put the deal’s total value at about $1 billion.

BDT Capital is a minority investor in the deal.

KCBS’ Jeffrey Schaub Reports:

Peet’s Coffee & Tea Inc. has about 13.3 million outstanding shares, according to FactSet. The current management and employees will remain with the company and its headquarters will remain in Emeryville, Calif.

The acquisition, which was unanimously approved by Peet’s board, is expected to close in about three months. A majority of Peet’s outstanding stock must be voted in favor of the deal at an upcoming special shareholders meeting.

(Copyright 2012 by CBS San Francisco. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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