JDE Peet’s, the Europe-headquartered owner of Australian coffee brands Campos Coffee, Sacred Grounds, Harris, Espresso di Manfredi, and Two Seasons, is preparing to accept an acquisition offer from Keurig Dr Pepper (KDP).
The announcement on January 15 detailed KDP’s proposals to purchase all JDE Peet’s shares; it added that KDP would split into two independent US companies, each to be floated.
As the owner of soft drink brands such as Dr Pepper, 7Up, and Schweppes, KDP would be expanding into JDE Peet’s extensive coffee and tea portfolio.
Founded in 1753 in the Netherlands, JDE Peet’s has grown into the world’s largest pure-play coffee company. Its most recent Australian acquisition was that of Sydney-based Campos Coffee in 2021.
The all-cash acquisition offer has received full support from JDE Peet’s board, which views it as promoting “the sustainable success of its business,” according to a position statement from JDE Peet’s.
It added: “The board believes that the offeror has made a compelling offer representing an attractive cash premium to the shareholders, as well as favourable non-financial terms and commitments in respect of deal certainty.”
The board will recommend that shareholders vote to accept the offer at an extraordinary meeting on March 2.
