JDE and Peet’s combine and explore IPO
Jacobs Douwe Egberts (JDE) will combine with Peet’s Coffee and explore an IPO, creating a global leader in pure play FMCG coffee with leading positions in more than 20 major markets.
Known as JDE Peet’s, it will be anchored by brands such as Peet’s Coffee, the founder of specialty coffee and a leading super premium brand in the United States, as well as several global brands, including L’OR, Jacobs Coffee, Douwe Egberts, Senseo, Tassimo, Moccona, Kenco, Pickwick and Pilão.
The JDE Peet’s brand portfolio will include coffee brands that offer consumers a broad range of choices that include traditional roast and ground coffees, soluble coffee, on-demand systems with innovative proprietary platforms such as Senseo and Tassimo, and products compatible with other popular coffee systems. JDE Peet’s will be present in more than 140 countries and have revenues of approximately €7 billion, benefiting from the high growth of the coffee category in both developing and developed markets.
The exploration of an IPO is a key milestone in the partnership between Acorn Holdings B.V. (which includes controlling shareholder JAB and BDT Capital) and Mondelez International. As part of preparing for the IPO, Peet’s Coffee chief executive officer, Casey Keller, will become CEO of JDE Peet’s, effective January 2020. Frederic Larmuseau, who has decided to step down from his role as CEO of JDE, will remain at JDE as a special advisor to the board and the CEO.
Olivier Goudet, chairman of JDE and chairman of Peet’s Coffee, said: “We are excited that Casey will assume the role as CEO of JDE Peet’s as we continue further building upon the company’s strong track record of growth and expansion. We are proud of what we have accomplished at JDE and Peet’s but believe with our IPO the best years of growth and shareholder value creation are ahead of us with our newly combined company. I want to thank Frederic for his stewardship in driving JDE’s growth and development.”
Casey Keller said: “JDE Peet’s is an exceptional business with some of the most beloved coffee brands in the world, and I am excited to lead the company in its next phase of growth. With our leading positions in many important markets, supported by all the great people in our organisation, we are well-positioned to continue achieving strong long-term growth”.
Mr. Keller has been the CEO of Peet’s Coffee since 2018, after 25 years of leadership roles in the global FMCG industry including at P&G, Heinz, Mars Wrigley, and Alberto Culver.