Peet's Coffee & Tea, Inc. and Joh. A. Benckiser (JAB) announced the successful completion of the acquisition of Peet's by JAB for $73.50 per share in cash, or a total of approximately $1 billion.
The transaction was approved by Peet's shareholders at a special meeting of shareholders held on Oct. 26, 2012. As a result of the completion of the merger, Peet's common stock will cease trading on The NASDAQ Stock Market before the opening of the market on Oct. 30, 2012.
In addition to JAB, BDT Capital Partners, LLC, a Chicago-based merchant bank that provides long-term private capital solutions to closely held companies, is a minority investor in this transaction.
Citigroup served as financial advisor to Peet's, and Cooley LLP served as legal advisor. Morgan Stanley & Co. LLC and BDT & Company, LLC, an affiliate of BDT Capital Partners, served as financial advisors to JAB, and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor.