Food Business News - July 31, 2012 - (Page 12)

Wenda... Who? Private investment group to buy Peet’s Coffee for $1 billion EMERYVILLE, CALIF. — Joh. A. Benckiser (JAB), a Germany-based privately-held investment firm, has agreed to acquire Peet’s Coffee & Tea, Inc. for $73.50 per share in cash, or a total of approximately $1 billion. The agreement represents a premium of about 29% over Peet’s closing stock price on July 20. Once the transaction closes, Peet’s will become privately owned and will continue to be operated by the current management team and employees. Peet’s Coffee & Tea, founded in Berkeley, Calif., in 1966 by Alfred Peet, will remain based in the San Francisco Bay Area, with its home office in Emeryville and its roast-to-order facility in Alameda, Calif. Peet’s Coffee & Tea is a specialty coffee roaster and marketer of fresh-roasted coffee and tea. The company sells its Peet’s brand products through multiple channels of distribution, including grocery stores, home delivery, office, restaurant and food service accounts and, in six states, company-owned and operated stores. In addition, Peet’s sells Godiva Chocolatier brand coffees in its grocery channel. In the year ended Dec. 31, 2011, Peet’s had net income of $17,787,000 on sales of $371,919,000. “We are very excited about this next chapter in Peet’s rich history,” said Patrick O’Dea, president and chief executive officer of Peet’s. “Over many years we’ve demonstrated an unyielding commitment to craft coffees and teas of uncompromised quality. This commitment is what has distinguished the Peet’s brand among all others and will continue to guide us as we go forward.” Bart Becht, chairman of JAB, said the Innovative Specialty Ingredients for Meat and Poultry Premium phosphates and blends produced in Wenda’s BRC audited Grade A plants. Alginate based binding systems produced in Wenda’s BRC audited Grade A plants. Natural fruit and spice extracts that protect against pathogens while improving shelf life. Produced in an IFS audited plant. High quality beef collagen proteins that improve the texture, moisture retention and release, and cooking yields. acquisition is in line with JAB’s commitment to “owning and investing in companies with strong, premier-quality brands and great people whose values we share.” “Peet’s is just such a company, and we look forward to preserving the company’s culture and core values, while supporting management’s vision for future growth,” Mr. Becht said. JAB’s portfolio includes a minority investment in D.E Master Blenders 1753, formerly a part of the Sara Lee Corp. In addition to JAB, BDT Capital, a Chicago-based merchant bank that provides longterm private capital and advice to closely held companies, is participating in the transaction as an adviser and minority investor. The transaction is expected to close in approximately three months. FBN All-natural solution designed to replace phosphates in meat and poultry applications. Sales of Fairtrade-certified products grow 12% BONN, GERMANY — Global sales of Fairtrade-certified products rose 12% in 2011 to €4.9 billion ($6.4 billion on Dec. 31, 2011) from €4.3 billion in 2010, according to Fairtrade International. Fairtrade-certified products sold in the United States increased 10% to €1,031 million in 2011 from €937 million in 2010. The United Kingdom ranked as the largest buyer of Fairtrade-certified products with 2011 sales of €1,498 million, a 12% increase from €1,344 million in 2010. Also in 2011, Fairtrade-certified products entered the South Korean market and more than tripled in sales in South Africa. “Fairtrade is the norm for millions of people,” said Tuulia Syvaenen, executive operations director at Fairtrade International. “It is a part of the regular weekly shopping, and now sales of Fairtradecertified products are taking off in new countries as entirely new groups of people discover Fairtrade for the first time.” In estimated sales in volume per product, bananas led all other food products in 2011. Estimated global sales of Fairtrade-certified bananas in 2011 were 321 million tonnes, a 9% increase from 295 million tonnes in 2010. Cocoa beans saw a 14% increase to 40 million tonnes from 35 million tonnes. Coffee increased 12% to 98 million tonnes from 88 million tonnes. Cane sugar increased 9% to 138 million tonnes from 127 million tonnes, and tea increased 8% to 13.3 million tonnes from 12.4 million tonnes. Fairtrade-certified fruit juices increased 52% in 2011 to 38.8 million liters from 25.5 million liters. FBN Tel: 630-527-9800 12 FOODBUSINESS NEWS ® July 31, 2012

Table of Contents for the Digital Edition of Food Business News - July 31, 2012

Food Business News - July 31, 2012
Slowing global economy pressures McDonald’s net
Big changes may be looming for Dole Food Co.
Drought effects go well beyond corn, soybean crops
Table of Contents
Web Contents
Editorial - Global food parallels oil refining
Investments help drive earnings gain at Hershey
Prepared foods market to reach $32.45 billion in 2012
PepsiCo earnings fall on restructuring costs
Private investment group to buy Peet’s Coffee for $1 billion
Sales of Fairtrade-certified products grow 12%
Annie’s earnings climb 18% in first quarter
Food and beverage C.P.I. up 0.1% in June
Nestle Health Science acquires stake in medical foods company
Starbucks breaks ground on $172 million facility
Cal-Maine to buy egg production assets
Emmi Roth expanding in Wisconsin
B&G profit rises behind Culver Specialty business
Paramount Citrus acquires Healds Valley Farms
Washington - Government takes steps to aid drought-stricken farmers and ranchers
Ingredion: More than a catchy name
Ingredient Innovations - The next step in sodium reduction
Health and Wellness - Trans fats in review
Industry Images - Images from the I.F.T.
New Food Products
Supplier Innovations and News
Ingredient Market Trends
Ingredient Markets
Ad Index
Food Business in the News

Food Business News - July 31, 2012