 | |
| Company type | Private |
|---|---|
| Industry | Conglomerate |
| Founded | 1828 |
| Founders | Ludwig Reimann Johann Benckiser |
| Headquarters | , |
Key people | |
Number of employees | 29 (2019) [3] |
| Parent | Agnaten SE [2] |
| Subsidiaries |
|
| Website | jabholco |
JAB Holding Company [4] (JAB or Joh. A. Benckiser) is a German conglomerate, headquartered in Luxembourg, that includes investments in companies operating in the areas of consumer goods, coffee, luxury fashion, animal health, and fast food, among others. [2] [5] [6]
As of 2015, JAB's portfolio included a minority stake in the consumer products company Reckitt Benckiser, [7] and majority stakes in Coty, Peet's Coffee & Tea, Caribou Coffee Company, Jacobs Douwe Egberts (JDE), Einstein Noah Restaurant Group, and Jimmy Choo. [8] [9] [10] [11] [12] As of that date, JAB also owned Bally, Belstaff, Zagliani, Espresso House, and Baresso Coffee. [13] [14] [15]
In May 2014, D.E Master Blenders 1753 announced to acquire a majority stake in Mondelez's coffee business (outside of France) to form Jacobs Douwe Egberts, it would combine brands Jacobs, Carte Noire, Gevalia, Kenco, Tassimo and Millicano from Mondelez International and Douwe Egberts, L'OR, Pilao and Senseo from D.E Master Blenders. [16]
In August 2014, under the Peet's Coffee & Tea brand, JAB acquired Mighty Leaf Tea, a specialty tea retailer based in the San Francisco Bay Area. [17] In October 2015, Peet's Coffee & Tea acquired Portland, Oregon's Stumptown Coffee in a deal whose terms were not disclosed, [18] and in the same month acquired a majority stake in Chicago-based Intelligentsia Coffee & Tea. [19]
In March 2016, JAB and other investors acquired Keurig Green Mountain for $13.9 billion. [20] [21] In May 2016, JAB-controlled JAB Beech reached an agreement to acquire US doughnut shop operator Krispy Kreme for $1.35 billion. [22] In April 2017, JAB reached an agreement to buy U.S.-based Panera Bread, a fast casual bakery-café chain, for $7.5 billion. [23] Also in April, JAB was reported to be stepping back from investment in luxury goods, with reported plans to sell its stakes in the designer shoe and clothing brands Jimmy Choo, Bally, and Belstaff. [12] In August 2017, JAB announced the acquisition of Bruegger's Bagels. [24]
On 29 January 2018, Keurig Green Mountain announced it was acquiring Dr Pepper Snapple Group, with JAB owning 87% of the combined companies. [25] As of February 2018, JAB retained ownership of a minority stake in Bally after sale of its majority stake to the Chinese conglomerate Shandong Ruyi. [26] JAB's beverage empire was described in 2018 as having been built on "buy now, pay later" (extended terms of trade) principles; some coffee roasters owned by JAB are reported to require up to 300 days of financing from their suppliers. [27]
In February 2019 the company spent $1.2 billion to acquire Compassion-First Pet Hospitals then purchased National Veterinary Associates four months later. The combined revenue of Compassion-First and National Veterinary Associates is expected to be $3 billion in 2020, placing it among the three largest players in the industry barely 12 months after the firm's first takeover. [28]
Owned by Germany's Reimann family, [29] 90% of JAB belongs to four of the nine adopted children of the late Albert Reimann Jr. (1898–1984). [30] They trace their wealth to chemist Ludwig Reimann, who, in 1828, joined with Johann Adam Benckiser (founder of the namesake chemical company). Reimann married one of Benckiser's daughters and ended up owning the business. Great-grandson Albert Reimann Jr. took over after his father died in 1952 and added consumer goods. [31]
Initially, each of the nine children had inherited 11.1% ownership in JAB upon Albert's death in 1984. In the following years, five of the heirs sold their stakes to the other four: Matthias Reimann-Andersen, Renate Reimann-Haas, Stefan Reimann-Andersen and Wolfgang Reimann. As of January 2015, each of the four owns about $3.8 billion in JAB shares. [32]
The primary shareholder of JAB, as listed in its 2016 Consolidated Financial Statements, is Austrian-domiciled company Agnaten SE. [2] Agnaten is listed, by PrivCo, as a subsidiary of Joh. A. Benckiser GmbH, [33] the investment vehicle of the Reimann family. [34]
In March 2019, a German newspaper revealed that Albert Reimann Sr., and his son Albert Reimann Jr., were enthusiastic supporters of Adolf Hitler and the Nazi party well before they took power, and profited from forced labor, both in their industrial chemicals company in southern Germany and in their own home. [35] [36] [37] The revelations sparked ethical questions about consumer support for companies that owe their success in part to the historical use of forced labor. [38] [39]
Two months later, several of the Reimanns revealed to The New York Times that their mother, Emilie Landecker, Albert Jr.'s mistress, baptized as a Catholic like her mother, was the daughter of Alfred Landecker, a Jewish man deported to the Izbica Ghetto in 1942. His ultimate fate is unknown although many Jews sent to Izbica were held there pending transport to the Belzec and Sobibor extermination camps. They have renamed the family foundation after him and doubled its budget to €25 million (US$28.2 million), to fund projects that honour the victims of the Holocaust and Nazism. [40]
Krispy Kreme, Inc. is an American multinational doughnut company and coffeehouse chain.
Dr Pepper/Seven Up, Inc. was a soft-drink manufacturing company based in Plano, Texas. It was created by the merger of Dr Pepper, Inc. and The 7 Up Company on May 19, 1986. The merger was a result of the independent bailouts of both companies and the subsequent Federal Trade Commission blockage of a Dr Pepper merger with Coca-Cola. The DPSU merger resulted in the breakup of international branding rights held by the two independent companies.
Panera Bread is an American chain of bakery-café fast casual restaurants with over 2,000 locations, all of which are in the United States and Canada. Its headquarters are in Sunset Hills, Missouri. The chain operates as Saint Louis Bread Company in the Greater St. Louis area, where it has over 100 locations.
Peet's Coffee is a San Francisco Bay Area-based specialty coffee roaster and retailer owned by JAB Holding Company via JDE Peet's. Founded in 1966 by Alfred Peet in Berkeley, California, Peet's introduced the United States to its darker roasted Arabica coffee in blends including French roast and grades appropriate for espresso drinks. Peet's offers freshly roasted beans, brewed coffee and espresso beverages, as well as bottled cold brew. In 2007, Peet's opened the first LEED Gold Certified roastery in the United States. Peet's coffee is sold in over 14,000 grocery stores across the United States.
Einstein Bros. Bagels is an American chain of bagel cafes. In the 1990s, the company bought out several retail bagel chains from regions around the US which lacked bagel traditions. After filing for bankruptcy in 2000, the company was bought out by New World Coffee. It became part of Panera Brands in August 2021.
Bruegger's Enterprises, Inc. is a restaurant operator and subsidiary of the Luxembourg-based company JAB Holding Company. Bruegger's and its wholly-owned subsidiary Threecaf Brands Canada, Inc., are franchisers and operators of Bruegger's bakery-cafés, and Michel's Baguette.
Bally is a Swiss luxury fashion house established in 1851 by Carl Franz Bally and his brother Fritz. Historically known for its shoes, the brand also produces bags, accessories, and ready-to-wear. Rhuigi Villaseñor was its creative director from 2022-2023.
Caribou Coffee Company is an American coffee company and coffeehouse chain. It was founded in Edina, Minnesota, in 1992. As of September 2023, the company operates over 750 locations worldwide. It is headquartered in Brooklyn Center, Minnesota.
Au Bon Pain is an American fast casual restaurant, bakery, and café chain headquartered in Richardson, Texas, which operates 175 locations in the United States, Thailand, and Taiwan. The company is currently owned by AMPEX Brands.
Keurig is a beverage brewing system for home and commercial use. The American company Keurig Dr Pepper manufactures the machines. The main Keurig products are K-Cup pods, which are single-serve coffee containers; other beverage pods; and the proprietary machines that use these pods to make beverages.
Keurig Dr Pepper Inc., formerly Green Mountain Coffee Roasters (1981–2014) and Keurig Green Mountain (2014–2018), is a publicly traded American beverage and coffeemaker conglomerate with headquarters in Burlington, Massachusetts, and Frisco, Texas. Formed in July 2018, with the merger of Keurig Green Mountain and Dr Pepper Snapple Group, Keurig Dr Pepper offers over 125 hot and cold beverages. The company's Canadian business unit subsidiary operates as Keurig Dr Pepper Canada.
Intelligentsia Coffee is an American coffee roasting company and retailer based in Chicago, Illinois. Founded in 1995 by Doug Zell and Emily Mange, Intelligentsia is considered a major representative of third wave coffee. In 2015, Peet's Coffee & Tea acquired a majority stake in the company.
Dr Pepper Snapple Group was an American multinational soft drink company based in Plano, Texas. Since July 2018, it is a business unit of the publicly-traded conglomerate Keurig Dr Pepper.
Lambertus Johannes Hermanus "Bart" Becht is a Dutch businessman. An executive with more than 35 years of business experience working with consumer brands, Becht is the former Chief Executive Officer of Reckitt, which he led from 1995 to 2011 and former Partner at JAB Holding Company, which he joined in 2012. Becht announced his retirement from JAB in 2019.
Byron David Trott is the founder, chairman and co-CEO of BDT & MSD Partners, a merchant bank that provides advice and capital to family and founder-led companies. Formerly, Trott was vice chairman of Investment Banking at Goldman Sachs.
JDE Peet's N.V. is an American-Dutch company that owns beverage brands, mostly of coffee, tea and hot chocolate. It was formed in 2015 following the merger of the coffee division of Mondelez International with Douwe Egberts as Jacobs Douwe Egberts. The stock of JDE Peet's is listed on the Euronext Amsterdam stock exchange.
Blaine Hurst is an entrepreneur, businessman, and restaurateur. Currently, Hurst is President and Chief Executive Officer of Panera, LLC. Hurst was named Chief Executive Officer of Panera effective January 1, 2018, following the chain's acquisition by JAB Holdings in July 2017 for roughly $7.5 billion, and served as its President since December 2016.
Stefan Reimann-Andersen is an Austrian-German entrepreneur. Together with three of his siblings, they own 95% of Luxembourg-based investment firm JAB Holding Company.
Jimmy Choo floated its shares in London in October 2014 in an initial public offering that represented a partial divestment by JAB, which bought the brand in 2011. JAB is still the controlling shareholder in Jimmy Choo, with a roughly 68% stake.