JAB Holding’s coffee division, JDE Peet’s, announced Wednesday the company’s intention to acquire Australian coffee chain, Campos Coffee. Although terms of the transaction were not disclosed, the acquisition is expected to be finalized in July, subject to pre-closing conditions.
“The Campos team have built an incredible brand and network across Australia, delivering award winning and consistently outstanding coffee to their customers,” JDE Peet’s Australia and New Zealand general manager, Albert Moncau, said in a statement. “The business is a perfect fit for us and we look forward to welcoming the Campos team to our world of coffee and tea, learning from each other’s expertise and building on their award winning coffee experience.”
Campos Coffee has more than 600 cafes globally, and also has a direct-to-consumer and retail business. The chain opened its first U.S. location in Salt Lake City in 2018, but has since announced the closure of its North America branch at the end of June 2021 due to pandemic-related challenges.
“We are incredibly proud of what we have achieved from our humble beginnings on the streets of Newtown in Sydney,” Will young, founder of Campos said in a statement. “The transaction will enable the Campos brand to further unlock its true potential. […] We are confident that Campos can and will continue to grow under their stewardship by continuing to focus on what made us Australia’s number one specialty coffee brand - high quality coffee and great service to our café partners.”
JAB Holding first announced the merger of two of its coffee brands, Dutch beverage group Jacobs Douwe Egberts and Berkeley, Calif.-based Peet’s Coffee & Tea, to form JDE Peet’s in December 2019. The expansive coffee and beverage-focused portfolio includes global brands such as Maxwell House, L’OR, Jacobs Coffee, Douwe Egberts, Senseo, Tassimo, Moccona, Kenco, Pickwick and Pilão.
In June 2020, JDE Peet’s made its debut on Europe’s Euronext Amsterdam, valued at €2.25 billion ($ 2.5 billion USD) for the beverage company’s first IPO.
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