JDE Peet’s completes transaction to manufacture, market and sell Caribou-branded consumer and foodservice coffee products
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PRESS RELEASE
Amsterdam, 26 March 2024
JDE Peet’s (EURONEXT: JDEP), the world’s leading pure-play coffee and tea company by revenue, today announced the completion of the previously announced transaction under which the company has been granted a long-term global license to manufacture, market and sell Caribou consumer and foodservice coffee products, excluding Caribou coffeehouses. The transaction provides JDE Peet’s a strong platform to expand its premium coffee portfolio in the United States, the largest coffee market in the world, in which the company already sells and distributes Peet’s coffee, Stumptown, Intelligentsia and L’OR coffee.
Under the terms of the agreement, JDE Peet’s has acquired Caribou’s coffee roasting operations in Minneapolis, Minnesota. The two companies have also entered into a long-term strategic arrangement under which JDE Peet’s will supply coffee to, and coffee products for sale in, Caribou’s coffeehouses. With over 800 coffeehouses in 11 countries, Caribou has made significant progress in its retail expansion plan which is expected to substantially increase the number of coffeehouses in the United States and abroad in the coming years.
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About JDE Peet’s
JDE Peet’s is the world's leading pure-play coffee and tea company, serving approximately 4,100 cups of coffee or tea per second. JDE Peet's unleashes the possibilities of coffee and tea in more than 100 markets, with a portfolio of over 50 brands including L’OR, Peet’s, Jacobs, Senseo, Tassimo, Douwe Egberts, OldTown, Super, Pickwick and Moccona. In 2023, JDE Peet’s generated total sales of EUR 8.2 billion and employed a global workforce of more than 21,000 employees. Read more about our journey towards a coffee and tea for every cup at www.jdepeets.com.
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