JDE Peet’s announces equity distribution by its majority shareholder
March 18 2021 - 12:30PM
JDE Peet’s announces equity distribution by its majority
shareholder
Press release
Amsterdam, 18 March 2021
JDE Peet’s (EURONEXT: JDEP), the world’s largest pure-play
coffee and tea group by revenue today announced that JAB
majority-owned subsidiary Acorn Holdings B.V. (“Acorn”), the
largest shareholder in JDE Peet’s, has converted a portion of the
interest of its minority partners into directly held shares of JDE
Peet’s share capital.
The minority partners involved in the transaction include
affiliates of BDT Capital Partners ("BDT"), affiliates of Quadrant
Capital Advisors ("Quadrant"), and other co-investors, including
investors in JAB Consumer Fund ("JCF"). Following the
distribution, BDT and Quadrant will no longer hold shares in Acorn,
but have expressed their intention to remain long-term JDE Peet’s
shareholders. In aggregate, Acorn distributed 35,649,053 shares,
representing 7.1% of the total issued and outstanding share capital
of JDE Peet’s, increasing the free float to 23.8%. Both Genevieve
Hovde from BDT and Alejandro Santo Domingo from Quadrant will
remain on the Board of the company.
“JAB and its co-investors have been and continue to be
outstanding partners since the very beginning of our coffee journey
in 2013 and its transformation into a global coffee and tea
powerhouse,” said Fabien Simon, CEO of JDE Peet’s. “Their ongoing
support as direct long-term shareholders is much appreciated as we
proceed on our natural evolution as a public company.”
BDT Capital Partners Chairman and CEO Byron Trott added, “BDT is
a longstanding partner of JDE Peet’s and its capable management
team, led by Fabien Simon. We remain confident in the
Company’s strategy and direction and are pleased to participate in
JDE Peet’s continued value creation as a direct and committed
shareholder.”
Quadrant Managing Director and Chief Investment Officer,
Christopher Evison, added, “We are pleased to be part of JDE
Peet’s’ success in building the largest pure-play coffee and tea
company in the world. We look forward to enjoying continued growth
as a significant shareholder, and we thank the employees of JDE
Peet’s for reaching this milestone.”
Following the distribution, Acorn remains the controlling
shareholder with a 53.4% stake in JDE Peet’s. JAB, which was
not part of the distribution, continues to maintain its controlling
stake in Acorn, and has recently increased its stake directly in
JDE Peet’s.
###
Enquiries
MediaZach Siegel The 193 Group for JAB and JDE
Peet’szach@the193.com
Investors & AnalystsRobin
JansenIR@JDEPeets.com+31 6 159 44 569
About JDE Peet’sJDE Peet’s is the world's
largest pure-play coffee and tea company by revenue and served
approximately 4,500 cups of coffee or tea every second in 2020. JDE
Peet's unleashes the possibilities of coffee and tea in more than
100 developed and emerging markets through a portfolio of over 50
brands that collectively cover the entire category landscape led by
household names such as L’OR, Peet’s, Jacobs, Senseo, Tassimo,
Douwe Egberts, OldTown, Super, Pickwick and Moccona. In 2020, JDE
Peet’s generated total sales of EUR 6.7 billion and employed a
global workforce of more than 19,000 employees. Read more about our
journey towards a coffee and tea for every cup at
www.JDEPeets.com.
- JDEP announces equity distribution by its majority
shareholder
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