UNITED STATES
The Emeryville, Calif. based Peet’s Coffee & Tea made two major acquisitions in October. First, the specialty coffee company announced plans to buy Stumptown Coffee Roasters. The press release associated with this buy-out suggested Portland, Ore.-based Stumptown would operate independently.
“Stumptown’s journey has been about creating a coffee experience that surpasses all expectations,” said Duane Sorenson, founder of Stumptown Coffee Roasters. “I’m excited and confident that Peet’s will continue to support our journey in a way that uniquely reflects who we are.”
A few weeks later, another Peet’s announcement heralded the company’s intentions to buy a majority stake in Chicago, Ill.-based Intelligentsia. Again, the early spin is that Intelligentsia will maintain independence and retain its brand identity.
“Intelligentsia is built on the vision of creating a remarkable coffee experience,” said Doug Zell, founder of Intelligentsia Coffee. “Peet’s respects our vision and shares our same values. Emily and I both spent many years in the Bay Area and watched first-hand as Peet’s scaled their business while staying committed to their quality and craft. Peet’s is where I started my career in coffee and I’m delighted to be working with them again.”
JAB Holdings also owns Caribou Coffee and $7 billion Jacobs Douwe Egberts, making it the largest pure-play coffee company and the second largest coffee company in the world.
Will access to the scale of Peet’s resources help Stumptown and Intelligentsia reach more consumers while holding true to their roots? It will likely be a year or two before the full impacts of these back-to-back acquisitions will be known.
Learn more: www.peets.com