JDE Peet's

Last updated
JDE Peet's N.V.
Company type Public
Euronext Amsterdam:  JDEP
IndustryBeverages
Founded2015;10 years ago (2015)
HeadquartersAmsterdam,
Netherlands
Key people
  • Luc Vandevelde (CEO)
  • Olivier Goudet (chairman)
  • Giancarlo Moreira (Board Member)
RevenueIncrease2.svg €7.0 billion (2021)
Increase2.svg€1.1 billion (2021)
Increase2.svg€762 million (2021)
Total assets Increase2.svg€21.6 billion (2021)
Total equity Increase2.svg€11.2 billion (2021)
Owner JAB Holding Company (68%)
Number of employees
19,621 (end 2021)
Website www.jdepeets.com
Footnotes /references
[1]

JDE Peet's N.V. is a Dutch [2] [3] multinational coffee and tea company headquartered in Amsterdam. The company owns over 50 beverage brands, mostly of coffee, tea and hot chocolate. [4]

Contents

It was formed in 2015 following the merger of the coffee division of the American Mondelez International with the Dutch Douwe Egberts as Jacobs Douwe Egberts. In December 2019, Jacobs Douwe Egberts (JDE) merged with Peet's Coffee to form JDE Peet's. This merger was followed by an initial public offering in 2020. [5] The stock of JDE Peet's is listed on the Euronext Amsterdam stock exchange.

History

Predecessors

Jacobs Douwe Egberts

The original Douwe Egberts shop, The White Ox in Joure, Netherlands, now a museum Joure De Witte Os.jpg
The original Douwe Egberts shop, The White Ox in Joure, Netherlands, now a museum

Jacobs Douwe Egberts (JDE) originated from the Dutch company Douwe Egberts, with roots in a grocery store founded in 1753. In 1978, Douwe Egberts was acquired by the American company Sara Lee Corporation. [6] In 2012, Sara Lee spun off its coffee and tea division into D.E Master Blenders 1753 NV to focus on its core consumer products business. [7]

In 2013, the German investment group JAB Holding acquired D.E Master Blenders for $9.8 billion. In 2014, the company merged with the coffee division of American conglomerate Mondelez International, creating one of the largest coffee companies in the world. [8] [9]

Peet's Coffee

Peet's Coffee was founded in 1966 by Dutch-born entrepreneur Alfred Peet in Berkeley, California. The company was acquired by JAB Holding in 2012 for $977.6 million. Over the years, Peet's had expanded through acquisitions, including Mighty Leaf Tea (2014), Stumptown Coffee (2015), and Intelligentsia Coffee (2015).

Formation (2015–2020)

In 2015 Jacobs Douwe Egberts merged with Peet's Coffee, both now majority-owned by JAB Holding, to form JDE Peet's. [10] [11] On May 29, 2020, JDE Peet's raised $2.5 billion by taking the company public on the Euronext Amsterdam stock exchange in a deal that valued the company at $17.3 billion. [12]

In July 2021, JAB Holding named Giancarlo Moreira as Chairman of the Board JDE Peet's. The company opened new JDE Peet's locations in Florida, Texas, South Carolina, Utah, Nevada, Arkansas, Alabama and New Mexico, and also launched new JDE Peet's locations in international markets like United Arab Emirates, Saudi Arabia, Qatar, Israel, Jordan, South Korea and Japan. Moreira expanded JDE Peet's a long term deal with Major League Soccer club Inter Miami CF.[ citation needed ]

JDE Peet's chose to continue doing business in Russia following the Russian invasion of Ukraine in 2022. The company's CEO cited three reasons for staying in Russia: 1. Coffee and tea are essential products; 2. To protect local employees in the country; 3. The company's intellectual property would be seized if it left Russia. [13]

In October 2024, JAB Holding announced it would acquire Mondelez International's 17.6% stake in JDE Peet’s for €2.16 billion ($2.34 billion), increasing its ownership in the coffee company to approximately 68%. [14]

Brands

Brands owned by the company include:

References

  1. ↑ "JDE Peet's N.V. 2021 Annual Report" (PDF). JDE Peet's N.V. pp. 82, 87, 133, 135. Retrieved 7 August 2022.
  2. ↑ "JAB increases majority stake in JDE Peet's with $2.4 billion buyout of Mondelez's shares". Reuters. 2024-10-21. Archived from the original on 2024-10-21. Retrieved 2024-11-17.
  3. ↑ "Governance | JDE Peet's". www.jdepeets.com. Retrieved 2024-11-17.
  4. ↑ Staff Writer (2024-07-01). "JDE Peet's announces expansion of direct distribution". BeanScene. Retrieved 2024-11-17.
  5. ↑ Ziady, Hanna (2020-05-29). "Peet's Coffee owner pulls off speedy 10-day IPO despite pandemic fears | CNN Business". CNN. Retrieved 2024-11-17.
  6. ↑ Emily Bryson York (28 January 2011). "Sara Lee to split into two businesses". Los Angeles Times.
  7. ↑ "Sara Lee coffee spinoff D.E Master Blenders starts trading". Chicago Tribune. Reuters. 12 June 2012.
  8. ↑ Mark Scott (12 April 2013). "Benckiser to Buy D.E Master Blenders for $9.8 Billion". The New York Times .
  9. ↑ "DE and Mondelez merge". nu.nl (in Dutch). 7 May 2014. Retrieved 5 May 2015.
  10. ↑ "Brussels agrees with merger". nu.nl (in Dutch). 5 May 2015. Retrieved 5 May 2015.
  11. ↑ Maze, Jonathan (17 December 2019). "Jacobs Douwe Egberts to merge with Peet's and explore an IPO". Restaurant Business. Retrieved 29 May 2020.
  12. ↑ Dummett, Ben (29 May 2020). "Peet's Coffee Raises $2.5 Billion From IPO, Defying Pandemic". Wall Street Journal. Dow Jones. Retrieved 29 May 2020.
  13. ↑ Chaudhuri, Saabira (18 August 2023). "Why This Coffee Giant Is Staying Put in Russia: Owner of Peet's Coffee is renaming a major brand, rejiggering supply chains and hitting back at those who say it should exit country". Wall Street Journal. Retrieved 18 Aug 2023.
  14. ↑ "JAB to acquire Mondelez stake in JDE Peet's coffee business". Food Business News. Retrieved 2025-02-16.
  15. ↑ Hutching, Chris (17 January 2017). "Dutch company swoops on local tea and coffee group". Stuff . Retrieved 4 March 2024.
  16. ↑ "Sydney roastery Campos Coffee snapped up by Dutch giant JDE Peet's". 16 June 2021.
  17. ↑ Neerman, Pauline (2024-10-21). "JDE Peet's finds new CEO and shareholders". RetailDetail EU. Retrieved 2024-11-17.
  18. ↑ "Sobre Marcilla" (in Spanish). Archived from the original on 31 August 2018. Retrieved 31 August 2018.
  19. ↑ "La scheda del Caffè Splendid ora di Jacobs Douwe Egberts" [Splendid coffee details, now it belongs to Jacobs Douwe Egberts] (in Italian). 12 January 2016. Retrieved 23 September 2016.

Other sources

Commons-logo.svg Media related to JDE Peet's at Wikimedia Commons

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.