JDE Peet's

Last updated
JDE Peet's N.V.
Company type Public
Euronext Amsterdam:  JDEP
IndustryBeverages
Founded2015;9 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)
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

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

Beginnings

The company has its origins in De Witte Os, a general grocery shop that Egbert Douwes established in 1753 in Joure, Frisia, the Netherlands. In 1780, the company was transferred to his eldest son Douwe Egberts. It developed into a company dealing in coffee, tea, and tobacco. By 1925 it had changed its name to Douwe Egberts (as in Douwe, the son of Egbert), and had introduced the red seal as its logo. [6]

International expansions

In 1948, the company began to sell its products in Belgium, followed by France, Spain and Denmark. It founded a new holding company, Douwe Egberts Koninklijke'Royal Douwe Egberts' in 1968, and a year later took over the Dutch coffee manufacturer Kanis & Gunnink.

The company expanded through Europe, acquiring other tea, coffee and tobacco companies, such as the UK tea distributor Horniman's Tea.

Sara Lee

In 1978 Douwe Egberts was taken over by Consolidated Foods Corporation, later the Sara Lee Corporation. In 1989, Douwe Egberts purchased Van Nelle, its main Dutch competitor in coffee, tea and tobacco. It sold its tobacco interests, including Van Nelle and Drum rolling tobacco, to Imperial Tobacco in 1998. [7]

In 2001, the company collaborated with Philips to produce the Senseo coffee maker. The following year it established the Douwe Egberts Foundation, an independent entity that initiates and manages coffee and tea projects in countries of origin.

Douwe Egberts sued the province of Groningen in 2007 over the introduction of rules stating that all coffee supplied in the province must meet fair trade criteria set by Stichting Max Havelaar. Courts ruled in favour of the province of Groningen.

With profits from the coffee division under threat from rivals such as Nestlé and Kraft, and being unable to find a buyer, in 2012 Sara Lee split off the coffee division into D.E Master Blenders 1753, offering share-holders one share in the new company for each main share they held. [8] [9] The main Sara Lee company changed its name to Hillshire Brands. [10]

D.E to Mondelez

In 2012 Douwe Egberts became an independent Dutch company again, trading under the name D.E Master Blenders 1753 NV. [11]

In 2013, the German investor group JAB Holding Company made an offer to purchase D.E Master Blenders 1753 for $9.8 billion. [12] The company appointed a new management and delisted the company from the Euronext stock market. D.E. Master Blenders 1753 later bought Norway's Kaffehuset Friele coffee manufacturer. [13]

In May 2014 the company announced plans to merge with the coffee division of American food conglomerate Mondelez International. [14] The merger received approval from the European Commissioner for Competition Margrethe Vestager on 5 May 2015, subject to several conditions. [15] These included a requirement that Merrild and Carte Noire brands be sold (now owned by competitor Luigi Lavazza S.p.A.), and that the Senseo brand in Austria be licensed to a competitor (Luigi Lavazza S.p.A.).

Merger with Peet’s Coffee and IPO

Jacobs Douwe Egberts merged with Peet's Coffee, another coffee business owned by JAB Holding, to form JDE Peet's which would own the Peet's chain, as well as brands including: Jacobs Coffee, Douwe Egberts, Moccona, Super Coffee, Owl Coffee, OldTown White Coffee, Kenco and Pickwick, and brewing systems including Senseo and Tassimo. [16] The company was listed in Amsterdam in May 2020.

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 ]

Continued Business in Russia

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. [17]

Brands

Brands owned by the company include:

Related Research Articles

<span class="mw-page-title-main">Joure</span> Town in Friesland, Netherlands

Joure is a town in the north of the Netherlands. It is the administrative center of De Fryske Marren, Friesland. With 13,090 inhabitants, it is also the most populous town in the municipality.

<span class="mw-page-title-main">Sara Lee Corporation</span> Defunct American consumer good company

The Sara Lee Corporation was an American consumer-goods company based in Downers Grove, Illinois. The Sara Lee name was used of a number of frozen and packaged foods, often known for the long-running slogan "Everybody doesn't like something, but nobody doesn't like Sara Lee".

<span class="mw-page-title-main">Senseo</span> Coffee brewing system

Senseo is a registered trademark for a coffee brewing system from Dutch companies Philips and Douwe Egberts. The system is known for the coffee pods it uses to brew the coffee.

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.

<span class="mw-page-title-main">Douwe Egberts</span> Dutch coffee company

Douwe Egberts is a Dutch brand of coffee which is majority-owned by JDE Peet's. It was founded in Joure, Netherlands, by Egbert Douwes in 1753 as De Witte Os, a general grocery shop. The company later started dealing specifically in coffee, tea, and tobacco. By 1925, it had changed its name to Douwe Egberts and introduced its logo, a red seal with a "D.E." initialism.

<span class="mw-page-title-main">Gevalia</span> Swedish coffee brand

Gevalia is a coffee brand originating from Gävle, Sweden. Founded in 1853, it has grown to become the largest coffee roastery in Scandinavia. The brand name "Gevalia" is derived from the Latin name for Gävle.

<span class="mw-page-title-main">Kenco</span> British coffee brand

Kenco is a British brand of instant, roast and ground coffee sold by JDE Peet's in the United Kingdom and Ireland. Originally known as the Kenya Coffee Company, they started distributing coffee to Britain in 1923. Shortly after, they opened a coffee shop in Sloane Square and then changed their name to Kenco in 1962.

Jacobs is a brand of coffee that traces its beginnings to 1895 in Germany by Johann Jacobs and is today marketed in Europe by JDE Peet's.

<span class="mw-page-title-main">Tassimo</span> Single-serve coffee system

The Tassimo Hot Beverage System is a consumer single-serve coffee system that prepares one-cup servings of espresso, regular coffee, tea, hot chocolate and various other coffee drinks, notably those including milk such as latte or cappuccino. The brand is owned by JDE Peet's in most of the world and Kraft Heinz in North America.

<span class="mw-page-title-main">Jacobs Douwe Egberts factory</span> Factory in England

The Jacobs Douwe Egberts factory is a coffee producing factory in the Ruscote ward of Banbury, Oxfordshire, England. Built in the 1960s as a General Foods factory producing convenience food and drink including Bird's Custard, it subsequently changed ownership to Kraft Foods and Mondelez.

JDE may refer to:

<span class="mw-page-title-main">Friele</span> Norwegian coffee company

Friele is a Norwegian coffee manufacturer and brand based in Midtun, a commercial and residential district of the borough of Fana in Bergen, Norway. Friele is the largest producer of coffee in Norway. It is part of JDE Peet's.

<span class="mw-page-title-main">Pickwick (brand)</span>

Pickwick is a tea brand, marketed by Dutch company JDE Peet's. It is the largest tea brand in the Netherlands and the leading brand in market share of black tea there, although its share has been decreasing due to competition. As of 2014, it is also the leading tea brand in Denmark, with 27% of market share.

White Ox is a Dutch brand of rolling tobacco available worldwide. In Australia it is widely available to purchase from licensed tobacco retailers and is imported by Imperial Tobacco Australia LTD.

<span class="mw-page-title-main">Van Nelle Factory</span> Former industrial complex in Rotterdam

The former Van Nelle Factory on the Schie in Rotterdam, is considered a prime example of the modernist and functionalist architecture. It has been a designated UNESCO World Heritage Site since 2014. Soon after it was built, prominent architects described the factory as "the most beautiful spectacle of the modern age" and "a poem in steel and glass".

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.

Mondelez International, Inc., styled as Mondelēz International, is an American multinational confectionery, food, holding, beverage and snack food company based in Chicago. Mondelez has an annual revenue of about $26.5 billion and operates in approximately 160 countries. It ranked No. 108 in the 2021 Fortune 500 list of the largest United States corporations by total revenue.

JAB Holding Company S.à r.l. 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.

<span class="mw-page-title-main">Nestlé Tutbury</span> Coffee factory in derbyshire

Nestlé Tutbury is a large coffee factory in Derbyshire. It is the longest running Nestlé factory in the world, outside of Switzerland.

<span class="mw-page-title-main">BrewGroup</span> New Zealand tea and coffee manufacturer

BrewGroup is a New Zealand tea and coffee company. It started as Bell Tea in 1898, the name of a tea brand still sold by BrewGroup. Bell Tea is the country's oldest tea manufacturer. As of 2014, over 3 million Bell Tea bags are made each day in Auckland. Its tea brands give BrewGroup a 40% tea market share as of 2013. It is owned by Jacobs Douwe Egberts.

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 o…". archive.is. 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. ↑ "Heritage". demasterblenders1753.com.
  7. ↑ "Sara Lee to Sell Tobacco Unit for $1.1 Billion". Los Angeles Times. 8 April 1998.
  8. ↑ Emily Bryson York (28 January 2011). "Sara Lee to split into two businesses". Los Angeles Times.
  9. ↑ "Sara Lee coffee spinoff D.E Master Blenders starts trading". Chicago Tribune. Reuters. 12 June 2012.
  10. ↑ "Investor FAQs". Hillshire Brands.
  11. ↑ Dutch Coffee Brewer Coming Home May Give Jolt to Exchange, Maud van Gaal and Maaike Noordhuis (for Bloomberg), San Francisco Chronicle, June 12, 2012
  12. ↑ Mark Scott (12 April 2013). "Benckiser to Buy D.E Master Blenders for $9.8 Billion". The New York Times .
  13. ↑ Company News, DEMB1753, Amsterdam.Accessed: 18 January 2014.
  14. ↑ "DE and Mondelez merge". nu.nl (in Dutch). 7 May 2014. Retrieved 5 May 2015.
  15. ↑ "Brussels agrees with merger". nu.nl (in Dutch). 5 May 2015. Retrieved 5 May 2015.
  16. ↑ Maze, Jonathan (17 December 2019). "Jacobs Douwe Egberts to merge with Peet's and explore an IPO". Restaurant Business. Retrieved 29 May 2020.
  17. ↑ Chaudhuri, Saabira (18 Aug 2023). "Why This Coffee Giant Is Staying Put in Russia". Wall Street Journal. Retrieved 18 Aug 2023.
  18. ↑ Hutching, Chris (17 January 2017). "Dutch company swoops on local tea and coffee group". Stuff . Retrieved 4 March 2024.
  19. ↑ "Sydney roastery Campos Coffee snapped up by Dutch giant JDE Peet's". 16 June 2021.
  20. ↑ Neerman, Pauline (2024-10-21). "JDE Peet's finds new CEO and shareholders". RetailDetail EU. Retrieved 2024-11-17.
  21. ↑ "Sobre Marcilla" (in Spanish). Archived from the original on 31 August 2018. Retrieved 31 August 2018.
  22. ↑ "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.

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.