Owner of Peet's Coffee plans $2.2 billion IPO
JDE Peet's, owner of a number of coffee brands including Peet's Coffee, plans to raise upward of $2.2 billion in an IPO on the Euronext stock exchange.
JAB Holding, the investment firm involved in JDE Peet's, is moving forward with the planned IPO, betting that investors will have appetite for a food staple that typically has steady consumer demand regardless of the economic environment. JDE Peet's, the owner of a number of coffe brands including Peet's Coffee, plans to move forward with a $2.2 billion initial public offering on the Euronext stock exchange.
JDE Peet's is the largest pure-play coffee and tea group by revenue, having served around 130 billion cups of coffee and tea in 2019, according to the company. Read more:A Wall Street equity chief lays out 5 reasons why another 'significant drawdown' in stocks is coming right after the fastest crash in history
JDE Peet's derived 79% of its 2019 revenue from coffee that's sold for at-home consumption, a category that has held up well during coronavirus lockdowns as grocery store sales surge due to pantry-loading by consumers.
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