Investment holding company JAB has agreed to acquire Mondelez’s 86 million shares in JDE Peet’s for €25.10 (US$32.72) per share. Additionally, JAB has distributed shares of JDE Peet’s to more than 70 limited partners of JAB Consumer Partners (JCP), significantly increasing the free float of JDE Peet’s.
This is the final distribution of JDE Peet’s shares to JCP investors.
In aggregate, JAB distributed 43 million shares, representing 9% of the total issued and outstanding share capital of JDE Peet’s, increasing the free float to 32%. Following the aforementioned transactions, JAB’s stake in JDE Peet’s will have increased to 68%.
Major milestone
These transactions represent a major milestone for JDE Peet’s, which is now a more widely held blue chip company, says Joachim Creus, JAB managing partner, vice chairman and CEO.
“JAB has strong conviction in the resilience of the global coffee sector and the long-term value creation prospects of JDE Peet’s. We are fully committed to remaining an anchor shareholder of the world’s leading pure-play coffee and tea company.”
JAB is the anchor shareholder of Keurig Dr Pepper Inc., a leader in the North American beverage industry, and Krispy Kreme, Inc., a global player in freshly delivered doughnuts.
By Elizabeth Green
Source: foodingredientsfirst.com
General Mills has sold its US yogurt business to French dairy giant Lactalis, officially exiting the US yogurt market. The move marks a strategic pivot for the US food giant, which aims to sharpen its focus on higher-growth categories like snacks, pet food, and ice cream.
The US-based food producer entered into a restructuring support agreement with a group of lenders who hold a portion of its term loan debt. The agreement outlines a plan to run a “going-concern” sale, allowing the company to continue operations during the process.
Roelofs joined Refresco in 2007 and oversaw major expansion. The company now operates 75 manufacturing sites in 13 countries and employs over 14,000 people. During his tenure, Refresco grew from a regional player to a global leader in beverage solutions.
