Is Peet’s Coffee Owned By Starbucks?
Peet’s Coffee & Tea Inc., the Bay Area-based cafe chain, is going private for $977.6 million – but it’s not being sold to Starbucks , its giant seattle rival. Instead, German conglomerate Joh. A. Benckiser will shell out $73.50 a share to buy the Emeryville company, paying a 29% premium on Friday’s $57.16 closing price. … Read more