Peet’s didn’t disclose the terms of the deal in a news release, but Intelligentsia will continue to run independent of its new parent. The Chicago-based company has roasting operations in Chicago, Los Angeles and San Francisco, as well as 10 coffee bars across Chicago, Los Angeles and New York.
Co-founders Doug Zell and Emily Mange and co-owner Geoff Watts will maintain “significant” stakes in the business, Peet’s says.
“We’re excited to welcome Intelligentsia to the Peet’s family as the growth of the super-premium coffee market continues to explode in the U.S.,” Dave Burwick, president and CEO of Peet’s Coffee & Tea said.
As long as it isn’t actual super-premium coffee exploding in the U.S., because that sounds dangerous.
by Mary Beth Quirk via Consumerist
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