JAB Holding Co, the Luxembourg-based investment company owned by Germany’s billionaire Reimann family, is moving closer to listing their vast coffee business, which include brands like Peet’s Coffee and Caribou. According to Bloomberg, JAB has tasked two banks — BNP Paribas SA and JPMorgan Chase —to advise on the planned listing, seeking to raise $3.3 billion (€3 billion).
JAB announced in December that it was exploring an IPO for the company, which has coffee sales in more than 20 major markets, peddling brands like L’OR, Jacobs Coffee, Douwe Egberts, Senseo, Tassimo, Moccona, Kenco, Pickwick and Pilão. The combined revenue of the group’s coffee brands is estimated to be around $7 billion
A spokesperson for JAB did not respond to a request for comment about hiring investment banks.
JAB’s holdings include a controlling stake in shoemaker Bally, quick food chains Pret A Manger and Panera Bread as well as Krispy Kreme Doughnuts. JAB is also the largest shareholder of beauty company Coty.