Retail coffee leaders Peet’s Coffee and Jacobs Douwe Egberts are merging to become JDE Peet’s.
JAB Holding Company, the parent investment firm for both brands, announced the merger in late December. The new company will be led by Peet’s c.e.o. Casey Keller. JDE c.e.o. Frederic Larmuseau decided to step down from his position as part of the merger, a JAB Holdings announcement stated, but he will remain as a special advisor.
The merger positions JDE Peet’s in more than 140 countries with total revenues of about $7.8 billion, according to the statement. In addition to Peet’s, the new company’s portfolio will include L’OR, Jacobs Coffee, Douwe Egberts, Senseo, Tassimo, Moccona, Kenco, Pickwick, and Pilão.
The new entity now will explore a possible Initial Public Offering (IPO) that officials expect to be completed within a year.
“We are excited that Casey will assume the role as c.e.o. of JDE Peet’s as we continue further building upon the company’s strong track record of growth and expansion,” said Olivier Goudet, chairman of both JDE and Peet’s Coffee. “We are proud of what we have accomplished at JDE and Peet’s but believe with our IPO the best years of growth and shareholder value creation are ahead of us with our newly combined company. I want to thank Frederic for his stewardship in driving JDE’s growth and development.”
“JDE Peet’s is an exceptional business with some of the most beloved coffee brands in the world, and I am excited to lead the company in its next phase of growth,” Keller said in today’s announcement. “With our leading positions in many important markets, supported by all the great people in our organization, we are well-positioned to continue achieving strong long-term growth.”