Peet’s Coffee: Unveiling the Mighty Force Behind – Which Company Owns it?
When it comes to coffee, it’s safe to say that many of us have a favorite go-to spot to get our daily caffeine fix. One such spot is Peet’s Coffee, a renowned and beloved coffee chain that has gained popularity for its rich and flavorful brews. But have you ever wondered who is the mighty force behind this successful coffee venture? In this article, we will delve into the ownership of Peet’s Coffee and uncover the company that holds its reins.
The Journey of Peet’s Coffee – A Brief Overview
Before we unravel the mystery of the company behind Peet’s Coffee, let’s take a moment to appreciate the roots and journey of this iconic coffee brand. Peet’s Coffee was founded in 1966 by Alfred Peet in Berkeley, California. Alfred Peet, often referred to as the “Godfather of coffee,” had a deep passion for coffee and roasting.
Alfred Peet’s commitment to quality and his meticulous attention to detail set the foundation for what would become a thriving coffee business. Peet’s Coffee quickly gained a reputation for its hand-roasted beans and distinctive flavor profiles, attracting a loyal customer base.
Starbucks: The Early Investor and Peet’s Coffee Merger
Now, let’s get to the heart of the matter – who owns Peet’s Coffee? In 1984, a significant milestone occurred in the history of Peet’s Coffee when Starbucks, the coffee giant we all know, made a strategic investment and acquired a 14% stake in the company. This investment played a crucial role in strengthening Peet’s Coffee, allowing it to expand its reach and further develop its brand.
Although Starbucks held a stake in Peet’s Coffee, it wasn’t until 2012 that the rumblings of a potential merger between the two coffee powerhouses began to surface. In July 2012, an announcement shattered the coffee world – Peet’s Coffee would be merging with Joh. A. Benckiser (JAB) Holding Company, a privately-held German conglomerate.
The Rise of JAB Holding Company
To truly understand the ownership of Peet’s Coffee, we need to explore JAB Holding Company and its journey to becoming a formidable force in the coffee industry. JAB Holding Company, founded by the secretive Reimann family, has been on a relentless acquisition spree, snatching up coffee and beverage companies with a mission to create a global coffee empire.
JAB Holding Company’s acquisition strategy gained momentum in 2013 when it acquired the American coffee chain, Caribou Coffee. This acquisition was swiftly followed by another significant move – the acquisition of the famous American doughnut and coffeehouse chain, Krispy Kreme, in 2016.
With each new acquisition, JAB Holding Company solidified its position as a major player in the coffee industry. Their portfolio expanded further when they acquired Keurig Green Mountain, the renowned single-serve coffee company, in 2016. This strategic move allowed JAB Holding Company to tap into the booming market of at-home coffee brewing systems.
The Peet’s Coffee and JAB Holding Company Connection
Returning to Peet’s Coffee, the final piece of the puzzle falls into place. In 2012, JAB Holding Company acquired Peet’s Coffee through an indirect subsidiary, allowing them to join forces with the iconic coffee brand. The merger between Peet’s Coffee and JAB Holding Company created an even stronger contender in the coffee industry, combining the rich heritage and quality of Peet’s Coffee with the vast resources and global reach of JAB Holding Company.
Since the acquisition, Peet’s Coffee has continued to thrive under the ownership of JAB Holding Company. The company has expanded its presence across the United States and diversified its product offerings, catering to the evolving taste preferences of its loyal customers. Peet’s Coffee has also upheld its commitment to sustainability and ethical sourcing, ensuring that their coffee beans are responsibly grown and traded.
The Legacy Continues
As we reflect on the ownership of Peet’s Coffee, it becomes evident that the merging of two coffee powerhouses – Peet’s Coffee and JAB Holding Company – has propelled the brand to new heights. Although the reins are held by JAB Holding Company, the essence and soul of Peet’s Coffee, as envisioned by Alfred Peet, continue to shine through.
Peet’s Coffee remains a testament to the power of passion, craftsmanship, and dedication to delivering exceptional coffee experiences. So, the next time you find yourself savoring a cup of Peet’s Coffee, take a moment to appreciate the mighty force behind it and the remarkable journey that has made it a beloved coffee brand across the nation.