Cafe Peet's

Owned by JAB Holding Company through JDE Peet's, Peet's Coffee is a specialty coffee roaster and retailer based in the San Francisco Bay Area. Peet's Coffee & Tea, founded in 1966 by Alfred Peet in Berkeley, California, is famous for introducing darker roasted Arabica coffee to the United States. Peet's serves freshly roasted beans, brewed coffee, espresso drinks, cold brew in bottles, and more. [5] The first LEED Gold Certified roastery in the United States was opened by Peet's in 2007. Over 14,000 supermarkets in the United States stock Peet's coffee. [7]1

The company had 200 locations across the US as of November 2021.

History [ edit1 ]

The first location of Peet's Coffee & Tea was in North Berkeley.

It was in the Netherlands that Alfred Peet grew up; his father ran a coffee wholesale and bean grinding business. Peet learned to roast and grind coffee from his father. When he was eighteen years old, he moved to London and got a job at the Twinings Coffee & Tea Company. Before settling in San Francisco in 1955, he worked for a coffee and tea importer in New Zealand and Indonesia (see note 9). [10]1

A few blocks away from the University of California, Berkeley campus on Vine Street in Berkeley, California is where Peet opened the first "Peet's Coffee, Tea & Spices" in 1966. Its first product was not coffee in a cup, but coffee beans. Small batches of his coffee beans were roasted by hand. After expanding to four stores, the brand was eventually dubbed "Peet's Coffee and Tea." As a result of his efforts, Alfred Peet is widely regarded as the "godfather of gourmet coffee in the United States" [11]. S The original location on Vine Street and Walnut Avenue is still operational[12]. Peet's Coffee and Tea expanded to Menlo Park, California, with their second store. [13]

Even after selling his company to Sal Bonavita in 1979, Peet stayed on as a coffee buyer and consultant for the firm until 1983. In 1984, Starbucks co-founder Jerry Baldwin purchased four Peet's Coffee & Tea stores from Sal Bonavita. Baldwin and his co-investors in Starbucks sold the company in 1987 so that they could concentrate on Peet's. Howard Schultz, the new owner of Starbucks, has signed a non-compete agreement in the San Francisco Bay Area that will last for four years. [15]1

Peet's Coffee & Tea Company went public for the first time in 2001 after being founded as a corporation. PEET was the ticker symbol under which the company traded on the Nasdaq. At per share, 3 million shares were sold. The price per share increased to . 38, and $26 thousand was raised for the business. 4 million [16][17]

In 2007, Peet's established a roasting facility in Alameda. In place of the previous Emeryville, California location is the first LEED Gold Certified roastery in the entire country. [6][18]

Peet's workers in Chicago organized as Peet's Worker's Group in 2012 out of discontent with their pay, scheduling, sick leave, and overall working conditions, which led to frequent wrist injuries. They had three representatives from Peet's corporate come to their store, and they said that the employees' complaints were due to the manager's poor performance and that they would not meet with anyone individually to address their concerns. Thus, the group's momentum dwindled, and its chief organizer was let go after being repeatedly tardy to work. The other employees at Peet's concluded that the company was unfairly applying its lateness policy to her dismissal. [19]1

Joh. A. Benckiser, a German investment firm, bought Peet's for 7 million in 2012 and took it private. Seventy-three million dollars, or fifty dollars for each share One of the largest acquisitions ever made of a Berkeley-based company The JAB Holding Company (Joh Control of luxury brands Bally, Belstaff, and Jimmy Choo, as well as minority stakes in consumer product companies Reckitt Benckiser and Coty, Inc. Later, in [21] the JAB Holding Company bought a stake in Caribou Coffee. [22]

Peet's, along with Next World Group, purchased the Bay Area-based specialty tea brand Mighty Leaf Tea in August 2014. In October 2015, Peet's Coffee & Tea announced that Stumptown Coffee Roasters would be acquired outright. Later that month, Peet's announced that it would be acquiring a controlling interest in Intelligentsia Coffee & Tea, a Chicago-based specialty coffee and tea retailer. [25][26][27]

Peet's Coffee & Tea announced in December 2016 that it would be constructing a second roaster in Virginia" target="_blank">Suffolk, Virginia. The $58 million, 175,000 square foot building was expected to debut in 2018. [28] Around 1 million pounds of coffee was being roasted at the Alameda plant every week during that time. [7]1

In October 2017, Peet's launched its first store in Shanghai, China. [29]1

Revenue for Peet increased to 3 million in the 2019 fiscal year. [30]1

Peet's Coffee and Jacobs Douwe Egberts owner JDE Peet's raised $2 billion on May 29, 2020. When the company went public on the Euronext Amsterdam stock exchange, it raised $5 billion in a deal that valued the firm at $17 billion. 3 billion Despite the coronavirus pandemic and economic slowdown, this IPO was the largest in Europe and the second largest in the world in the first five months of 2020. [32]

Locations [ edit1 ]

By 2018, Peet's operates over 200 retail locations in 11 states: California, Washington DC, Virginia, Tennessee, Nevada, Washington, Oregon, Colorado, Illinois, Massachusetts, and Maryland,[33] and has expanded to China, opening a location in Shanghai [34]1

To concentrate on its expanding markets, Peet's closed all of its stores in Pennsylvania, Ohio, and Michigan in 2014. [35]1

As of last December, 14,000 supermarkets, college bookstores, and wholesalers across the US carried Peet's coffee. Their Chicago and Boston locations alone numbered over a dozen, and they had 23 cafes in the nation's capital. C time and place [36]1

Collaborations that have been granted permission to do so [ edit1 ]

Peet's has outlets at many transit centers, including several airports such as William P. Hobby Airport, George Bush Intercontinental Airport, Reno-Tahoe International Airport, John F. Kennedy International Airport, Philadelphia International Airport, Sacramento International Airport, Phoenix Sky Harbor International Airport, Hollywood Burbank Airport, and all three major airports in the San Francisco Bay Area [37]

You can find a Peet's Coffee & Tea in Portland, Oregon's Northeast neighborhood.

Clark Center at Stanford University was home to the first full-service Peet's coffeebar on a college campus when it opened in 2003. In addition, all Stanford cafes and restaurants now offer Peet's coffee (see [38]). In 2005, UC Berkeley opened a Dwinelle Hall and campus restaurant franchised by Peet's Coffee & Tea near the campus's existing dining facilities. In 2009, coffee shops also opened at Villanova University, University of California, San Diego, and the University of Wisconsin, Madison's Memorial Union. [39]

In September 2016, Peet's gave $250,000 to the University of California, Davis to establish the Coffee Center, a research hub dedicated to the interdisciplinary study of coffee. UC Davis is the first institution anywhere to give post-harvest coffee its full academic attention. Grants and fellowships were made available to graduating students through the program's partnership with the Specialty Coffee Association of America. Peet's signed a partnership agreement with UC Berkeley's University Partnership Program in April 2017 to provide funding for various student initiatives like internships, scholarships, and travel grants. [41][42]

Products [ edit1 ]

It was announced in September 2015 that Peet's would be serving breakfast all day long. The shift would first be introduced in the Chicago market, and then expanded to include all outlets. [43]1

The blend was first introduced to Peet's Coffee bar menu in the summer of 2015. Peet's introduced a new line of cold brew coffee in bottles in July 2016 and distributed it to 400 stores in the San Francisco area. Baridi Black, Coffee au Lait, and Dark Chocolate were the original flavors of Peet's coldbrew. In May of 2017, Almond Milk was introduced as a new flavor for bottled cold brew. [45]1

Peet's newest D location, which opened in December 2016, features a Slow Bar. C Coffee shop where you can get your caffeine fix using the French press, pour-over, or siphon. [46]1

Influence [ edit1 ]

Peet "became like a father mentor" to the three Starbucks founders when they were getting their business off the ground. He gave the three young men permission to mimic his store's design and gave them access to his wholesalers. [47][48][49]

There is a subculture devoted to Peet's Coffee & Tea; they are called "Peetniks" (a combination of "Peets" and "beatniks"). [50]1

Coffee bean and brewed coffee retailer Peet's was among the first to sell specialty grade beans and to roast them longer, resulting in a liquor that is darker, more bitter, and less sour tasting than the coffees available in the United States at the time. Peet's is widely recognized as an early pioneer in the specialty coffee industry.

While employed at Peet's in the early 1990s, two British men went on to found Union Coffee Roasters in their home country. [51]1

See also [ edit1 ]

• Java resource center

• Multiple-chain coffeehouses
• Coffee shops in the USA

References [ edit ]

1. ^1 Andria Cheng Expect a stronger competitor to Starbucks as Peet's Coffee parent company shares rise following its initial public offering. Forbes
2. ^1 William M Robert J. Pride, Jr.; Sense of As stated by Hughes (January 2010) Conceptual Underpinnings of Enterprise ISBN 9780538744515
3. ^1 March 2009 Tina Gant