Peet's Coffee sold to German conglomerate
It had been rumored that Starbucks was interested in buying Peet's.
And this final note, a bit of buzz in the caffeinated world of upscale coffeehouses.
The Bay Area-based Peet's Coffee and Tea has been sold. But if you think it's about to get a familiar green Starbucks awning. it's not.
A German luxury goods conglomerate bought Peets for $977 million, and it joins the high-end likes of Bally and shoemeister Jimmy Choo in the company's portfolio. Peet's headquarters will stay in Emeryville, Calif.