As Peet’s Coffee Parent Shares Surge Post IPO, Expect It To Be A Bigger Contender Against Starbucks

From: forbes.com

The coronavirus pandemic may have shut restaurants and cafes, but it’s not quenched the thirst for coffee: shares of Peet’s Coffee parent JDE Peet’s surged 14% on Friday after an initial public offering, likely paving the way for Peet’s to be a bigger challenger against coffee house giant Starbucks SBUX.

With the IPO, JDE Peet’s, formed only after a December deal that combined Peet’s Coffee with European packaged-coffee giant JDE, is valued with a market cap of about $17 billion, in what’s reportedly Europe’s biggest initial public offering this year.

The company is majority owned by the German family-owned investment group JAB, which also has majority stakes in fast-casual restaurant chain Pret A Manger, donut house Krispy Kreme and soft drink giant Keurig Dr Pepper.

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