JAB Buys Out Mondelez’s Stake In JDE Peet’s Coffee for $2.3 Billion
JAB Holding Co. will buy out Mondelez’s 86 million shares in JDE Peet’s for €25.10 (about $27) per share; that’s a cool $2.3 billion. In the process, JAB distributed shares of JDE Peet’s to more than 70 limited partners of JAB Consumer Partners. That and previous distributions total 43 million JDE Peet’s shares, representing 9% of the total issued and increasing the stock’s free float to 32%.
The same day, JDE Peet’s also announced the appointment of Rafael (Rafa) Oliveira as CEO and stand-in executive director. He has extensive global FMCG leadership experience and spent the past 10 years at Kraft Heinz Co. in various executive roles, including EVP and president of international markets (EMEA, APAC and LATAM).
JDE, for Jacobs Douwe Egberts, was created in 2014 when Mondelez International and D.E Master Blenders 1753 B.V. combined their coffee businesses, which included some manufacturing assets. Peet’s chain of coffee shops was added a few years later, and JDE Peet’s also has taken over coffee manufacturing for Caribou’s coffeehouses, in which it has an indirect financial relationship.
JAB is the anchor shareholder of Keurig Dr Pepper Inc. and Krispy Kreme Inc. and has a key stake in Panera Brands Inc.
