Bart Becht Leaves JAB
Bart Becht
JAB Holding Co. senior partner Bart Becht, the operational genius behind an expansive $52 billion spending spree that has transformed the global coffee market, will step down as chairman and retire in 2019.
A date was not announced.
JAB senior partner Peter Harf and c.e.o. Olivier Goudet “will continue to lead JAB and oversee its investment strategy,” according to the company.
Fabien Simon was named partner and c.f.o. and Ricardo Rittes, an Anheuser Busch InBev executive, will join the company as a partner leading expansion into emerging markets. Becht, 62, based in London, has worked at JAB since 2011, supporting acquisitions that include Peet’s Coffee & Tea, Caribou Coffee Co., Stumptown Coffee Roasters, and Intelligensia in coffee retail; single-serve giant Keurig, as well as British sandwich chain Pret A Manger Ltd., and US ventures Krispy Kreme Doughnuts, Einstein Bagels, Au Bon Pain and Panera Bread.
In July 2018 the company closed an $11 billion deal for Dr Pepper Snapple Group Inc., the third largest US soft drink bottler. JAB has raised more than $5 billion from inside and outside investors, part of a strategy to buy and hold profitable companies for decades. According to press reports, Becht recently advocated a period of consolidation. He disagreed with partners pushing for more deals and growing assets.