JDE and Peet’s Coffee to combine and seek IPO

JDE and Peet’s Coffee to combine and seek IPO

Jacobs Douwe Egberts (JDE) yesterday (Dec. 17) announced that it will combine with Peet’s Coffee and explore an IPO. JDE Peet’s will become a global leader in pure play FMCG coffee with leading positions in more than 20 major markets. Its iconic brands will include Peet’s Coffee, the founder of specialty coffee, and leading global brands like L’OR, Jacobs Coffee, Douwe Egberts, Senseo, Tassimo, Moccona, Kenco, Pickwick, and Pilao. Such renowned and popular brands will be able to offer consumers a wide range of choices ranging from traditional roast and ground coffees, soluble coffee, on-demand coffee systems with innovative proprietary platforms like Senseo and Tassimo.

According to the press release on JDE’s website, the exploration of an IPO is a key milestone in the partnership between Acorn Holdings B.V. (including controlling shareholder JAB and BDT Capital) and Mondelez International. Peet’s Coffee Chief Executive Officer Casey Keller will become CEO of JDE Peet’s, effective from January 2020, as part of preparing for the IPO.

Keller commented in the press release, “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. 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”. Keller has been the CEO of Peet’s Coffee since 2018, after 25 years of leadership roles in the global FMCG industry including at P&G, Heinz, Mars Wrigley, and Alberto Culver.

It is said that the IPO is expected to be completed in 2020, depending on market conditions, after which JAB expects to remain the controlling shareholder.