EMERYVILLE, Calif. & CHICAGO--(BUSINESS WIRE)-- Peet’s Coffee & Tea and Intelligentsia Coffee today announced an agreement in which Peet’s will acquire a majority stake in Intelligentsia, the pioneer of the third wave coffee movement. Intelligentsia will continue to operate independently and have full access to Peet’s resources and scale. Intelligentsia co-founders Doug Zell and Emily Mange as well as co-owner Geoff Watts will retain a significant stake in the business and stay actively involved in the company’s operations. Peet’s will continue to pursue its growth strategy across its retail cafes, wholesale and grocery. Terms of the transaction were not disclosed. This Smart News Release...
↧