Los Angeles Business Journal

Peet's Coffee Agrees to $1 Billion Takeover

Monday, July 23, 2012

Peet's Coffee & Tea Inc. today said it had agreed to be taken private in a $1 billion cash deal by German investment group Joh. A. Benckiser. The Wall Street Journal reports that profits for the San Francisco Bay Area company, which operates retail stores and sells bagged-coffee in grocery stores, have been hit by high coffee costs in recent months.