German luxury conglomerate and owner of Jimmy Choo, Benckiser, has splashed out $1b on Peets Coffee Inc. and its 200 units – In the first blog on this subject we asked why?
Well, firstly, it is interesting to note that whilst the vast bulk of Benckiser’s business is focussed on luxury clothing, apparel and fragrances….
….They are also a minority stake holder in DE Master Blenders 1753 NV, which you and I will know better as Douwe Egberts…. a business which was spun out of prior owner Sara Lee and is now listed in Amsterdam
Part of the Reimann Family investment vehicle, Benckiser is unlikely to be welcome as the purchaser of Peets by the legions of loyal fans or ‘Peetniks’
And indeed just a day after announcing the $1b purchase, shareholders rights firm Robbins Umeda LLP has announced an investigation, to ensure the Board of Peets is focussed on ‘undertaking a fair process to obtain maximum value for the business’
This news is based on revenues growing in Q1 +7% to $94.8m and independent market analysts valuing Peets at up to $95 a share – way below the $73 offered by Benckiser
It respectfully seems to me that Alfred Peet, the Dutch Immigrant, who started Peets in 1966 may be undertaking a stubborn rear guard action on his proposed new suitors…from the other dimension……well anything is possible….so good luck to all concerned, this is far from a ‘ done deal’
Guru ( Andy Grelak) writes for Aromo Coffee – They are coffee experts focussed on providing convenient and tasty ways for the caffeine addict to take their medicine. Aromo supplies excellent ESE Coffee pods and superlative Senseo pods, both of which offer the espresso and filter connoisseur a no mess, no fuss, super fresh and environmentally conscious method to make stunning coffee… the guys at Aromo also have a range of Dualit branded capsules which make a brilliant and economic alternative to nespresso capsules