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PEET'S COFFEE & TEA TO ACQUIRE A MAJORITY STAKE IN INTELLIGENTSIA COFFEE (Peet's Coffee & ...

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(Source: Peet's Coffee & Tea Inc) INTELLIGENTSIA TO CONTINUE OPERATING INDEPENDENTLY, LED BY ORIGINAL CO-FOUNDERS Emeryville, CA and Chicago, IL (October 30, 2015) - 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...

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