Peet’s Coffee & Tea, Inc. (NASDAQ:PEET) (“Peet’s”) and Joh. A. Benckiser (“JAB”) today announced the successful completion of the acquisition of Peet’s by JAB for $73.50 per share in cash, or a total of approximately $1 billion.
The transaction was approved by Peet’s shareholders at a special meeting of shareholders held on October 26, 2012. As a result of the completion of the merger, Peet’s common stock will cease trading on The NASDAQ Stock Market before the opening of the market on October 30, 2012.
In addition to JAB, BDT Capital Partners, LLC, a Chicago-based merchant bank that provides long-term private capital solutions to closely held companies, is a minority investor in this transaction.
Citigroup served as financial advisor to Peet’s, and Cooley LLP served as legal advisor. Morgan Stanley & Co. LLC and BDT & Company, LLC, an affiliate of BDT Capital Partners, served as financial advisors to JAB, and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor.About Peet’s Peet's Coffee & Tea, Inc. (NASDAQ:PEET) is the premier specialty coffee and tea company in the United States. The company was founded in 1966 in Berkeley, Calif. by Alfred Peet. Peet was an early tea authority who later became widely recognized as the grandfather of specialty coffee in the U.S. Today, Peet's Coffee & Tea offers superior quality coffees and teas in multiple forms, by sourcing the best quality coffee beans and tea leaves in the world, adhering to strict high-quality and taste standards, and controlling product quality through its unique direct store delivery selling and merchandising system. Peet's is committed to strategically growing its business through many channels while maintaining the extraordinary quality of its coffees and teas. For more information about Peet's Coffee & Tea, Inc., visit www.peets.com. About Joh. A. Benckiser Joh. A. Benckiser is a privately held group focused on long term investments in premium brands in the broader consumer goods category. The group’s portfolio includes a majority stake in Coty Inc., a global leader in beauty, a minority stake in Reckitt Benckiser Group PLC, a global leader in health, hygiene and home products, and a minority investment in D.E Master Blenders 1753. The group also owns Labelux, a luxury goods company with brands such as Jimmy Choo, Bally and Belstaff. The assets of the group are overseen by three senior partners: Peter Harf, Bart Becht and Olivier Goudet.