Starbucks, the world’s largest coffeehouse chain, may be about to get a jolt on the competitive front.
Its U.S. rival Peet’s Coffee is tying the knot with Jacobs Douwe Egberts, or JDE, a European packaged-coffee giant housing labels including Jacobs Coffee, Douwe Egberts, Senseo and Tassimo, the parties said Tuesday.
The combined company, called JDE Peet, will explore selling shares to the public next year. Together, they have 7 billion euros in combined sales, or $7.81 billion, with a presence in more than 140 countries. Starbucks had sales of $26.5 billion in the year through Sept. 29.