Peet’s Makes Another Run Down The Indie Coffee Roasters Aisle, Buys Majority Stake In Intelligentsia

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Peet’s Coffee & Tea is on quite the caffeine kick lately, and it seems it’s not ready to leave the coffee roasters aisle just yet: a few weeks after snapping up Stumptown Roasters, Peet’s says it’s bought a majority stake in Intelligentsia Coffee. 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.

1. by Mary Beth Quirk
2. via Consumerist

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