✉️ This story was featured in this week’s Coffee News Club
In August, Keurig Dr Pepper announced that it had agreed to acquire JDE Peet’s for $18 billion, with plans to create a coffee mega-corporation once the deal was complete. But just last week, news broke that Peet’s will close 30 locations in the Bay Area and Illinois by the end of January.
News of the closures came just days after Keurig formally launched its takeover bid, making a cash offer for JDE Peet’s shares, which the board and a majority of shareholders agreed to accept. Peet’s said the closures “reflect a broader effort to align our business with long-term growth priorities and current market conditions,” according to a statement given to Nation’s Restaurant News…