Peet’s Coffee & Tea is a premier specialty coffee roaster headquartered in San Francisco.
Image: Wikimedia Commons
• Revenue: 0.44 million US$
It was founded by Mr. Alfred Peet, a coffee enthusiast, in 1966 when the first Peet’s Coffee & Tea store was opened in Berkeley. The style of coffee included – fresh beans, superior quality, a dark roast and small batches to produce rich and complex coffee. The store had become a gathering place for coffee devotees by 1969 and the area soon got recognized as – The Gourmet Ghetto. Since then, the company continuously strived to raise the bar for the American coffee industry.
The company went public January, 2001 after a successful IPO. In May 2011, it had a market capitalization of around $636 million, about 2.3% of Starbucks's. In 2012, German company Joh. A. Benckiser acquired Peet’s for $974 million. Benckiser is a holding company of the consumer products company Reckitt Benckiser.