Joh A Benckiser (JAB), a privately held group focused on long term investments in premium brands in the broader consumer goods category, has acquired US-based Peet's Coffee & Tea for $1bn.
Founded in 1966, California-based Peet's Coffee & Tea offers coffees and teas in multiple forms.
Peet's will continue to be operated by its current management team and employees.
The company will remain based in the San Francisco Bay Area, with its home office in Emeryville and its leadership in energy and environmental design (LEED) Gold Certified roast-to-order facility in Alameda.
Chicago-based merchant bank BDT Capital Partners is a minority investor in the transaction, besides JAB.
JAB is a holding company which is a part holder of the consumer products company Reckitt Benckiser. The group's portfolio also includes a majority stake in beauty products manufacturer Coty and a minority investment in DE Master Blenders 1753.
The group also owns luxury goods company Labelux with brands such as Jimmy Choo.
