Peet's Coffee will combine with Jacobs Douwe Egberts, also known as JDE, to become JDE Peet, Forbes reported. JDE Peet will have $7.81 billion of combined sales, in 140 countries, the article stated. Both companies are owned by investment group JAB, which also has significant investment in Keurig Dr Pepper.
With this merger, it will become a stronger competitor of Nestlé and Starbucks, according to the article.
According to Peet's Coffee's website, the company's founder, Alfred Peet, opened his first coffeebar in 1966.