Peet's Coffee

Peet's Coffee
	File:Peet's Coffee logo.svg Logo used since 2012
Company type	Subsidiary
Industry	Coffee roasting and retail
Founded	1 January 1966; 60 years ago in Berkeley, California, U.S.
Founder	Alfred Peet
Headquarters	Emeryville, California, United States
Area served	United States, China
Key people	Eric Lauterbach (President), Joris Knauf (CFO), Doug Welsh (Senior VP and Roastmaster)
Products	Freshly roasted coffee beans, brewed coffee, espresso drinks, bottled cold brew
Owner	JDE Peet's
Number of employees	5,000 (2019)
Parent	JDE Peet's
Website	www.peets.com

Peet's Coffee is a specialty coffee roaster and retailer based in the San Francisco Bay Area, currently owned by the Dutch multinational JDE Peet's. Established in 1966 by entrepreneur Alfred Peet in Berkeley, California, the company was a trailblazer in introducing darker roasted Arabica coffee, including blends such as French roast and espresso-quality beans. Its product range includes freshly roasted coffee beans, brewed coffee, espresso drinks, and bottled cold brew.

Peet's products reach consumers through more than 14,000 grocery stores across the United States, reflecting its extensive distribution network. As of November 2021, the company operated around 200 retail locations nationwide. For the fiscal year 2019, Peet's reported revenues of $983 million and employed roughly 5,000 individuals.

The leadership team features President Eric Lauterbach, Chief Financial Officer Joris Knauf, and Senior Vice President and Roastmaster Doug Welsh. Operating as a subsidiary under JDE Peet's—which itself is part of the JAB Holding Company—Peet's portfolio includes other brands like Stumptown Coffee Roasters, Intelligentsia Coffee & Tea, and Mighty Leaf Tea. The corporate headquarters are situated in Emeryville, California.

History

Alfred Peet (1920–2007), who founded the company, was raised in the Netherlands where his family managed a coffee wholesale and grinding business. After apprenticing with his father and gaining experience at Twinings in London, Peet relocated to San Francisco in 1955 to work in coffee importation.

In 1966, he launched the first "Peet's Coffee, Tea & Spices" store in Berkeley, California, focusing on hand-roasted coffee beans. The enterprise grew to four outlets and rebranded as "Peet's Coffee and Tea," securing its position as a pioneer in the U.S. specialty coffee market. The original Berkeley location continues to operate. Peet sold the business to Sal Bonavita in 1979 but remained involved as a consultant until 1983.

In 1984, Jerry Baldwin—co-founder of Starbucks—purchased Peet's four stores and redirected his attention from Starbucks to Peet's by 1987. This strategic decision enabled Peet’s to strengthen its market presence in the Bay Area while Starbucks’ new ownership agreed to a local non-compete arrangement.

Peet's went public on Nasdaq in 2001 under the ticker PEET, issuing 3.3 million shares at $8 each and raising $26.4 million to fund expansion efforts. In 2007, the company inaugurated a new roasting facility in Alameda, California, which doubled its production capacity and replaced its previous Emeryville operation.

JAB Holding Company—a German investment firm with holdings spanning Reckitt Benckiser and luxury brands such as Bally and Jimmy Choo—acquired Peet's for $977.6 million in 2012. This acquisition represented one of the largest investments into a Berkeley-originated company and integrated Peet’s into JAB’s global portfolio.

Peet’s broadened its product lineup through acquiring Mighty Leaf Tea (2014), Stumptown Coffee Roasters (2015), and majority ownership of Intelligentsia Coffee & Tea (2015). These strategic acquisitions expanded its specialty beverage offerings and market influence.

In 2015, Peet’s merged with Jacobs Douwe Egberts—also owned by JAB Holding—to establish JDE Peet's, enhancing its corporate framework and international reach.

To accommodate growth demands, Peet’s invested $58 million in a second roasting facility located in Suffolk, Virginia; announced in 2016 and subsequently opened, this plant increased production capacity beyond Alameda’s weekly output of one million pounds. The company also debuted its first overseas location in Shanghai, China, in 2017.

By fiscal year 2019, revenue had climbed to $983 million. In May 2020, JDE Peet's completed a $2.5 billion initial public offering on Euronext Amsterdam with a valuation of $17.3 billion. Despite challenges posed by the COVID-19 pandemic and economic downturns, it ranked as Europe’s largest IPO during the first five months of 2020 and was the second largest globally that year.

Locations

By 2025, Peet's maintains a network of more than 250 retail outlets spanning 13 states, including Arizona, California, Colorado, Illinois, Maryland, Massachusetts, Nevada, New York, Oregon, Tennessee, Texas, Virginia, and Washington, in addition to the District of Columbia. The company marked its international debut in 2018 with the launch of a flagship roastery cafe located in Shanghai, China.

Previously, Peet's had operations in Pennsylvania, Ohio, and Michigan but opted to shutter these locations in 2014 to prioritize markets with stronger growth potential. By the end of 2016, Peet's products were distributed through approximately 14,000 grocery stores, universities, and wholesale outlets nationwide. The brand also operated several coffeebar sites in Chicago and Boston, alongside 23 locations within the Washington D.C. metropolitan area.

Unionization

Starting in late 2022, employees at multiple Peet's stores in California began organizing efforts with support from the Service Employees International Union and the Industrial Workers of the World. In January 2023, the North Davis store became the first Peet's location in the United States to successfully unionize. Following this, workers at Southside Berkeley, Temescal, Piedmont (California), and Portland (Oregon) also voted in favor of union representation.

Staff members highlighted concerns such as inadequate wages, problematic scheduling practices, and unsafe working conditions as primary motivations behind these union campaigns. In response to these efforts, Peet's management allocated over $125,000 towards external consultants aimed at influencing union vote results. These events underscore ongoing labor relations complexities as Peet's continues to expand its retail presence.

Licensed partnerships

Peet's operates numerous outlets within transit hubs, including several airport locations.

In 2003, Peet's launched its inaugural full-service coffeebar on a university campus at Stanford University's Clark Center. Today, Peet's coffee is available at every dining facility across Stanford. By 2005, UC Berkeley introduced its own Peet's franchise on campus. Later expansions included coffeebars at the University of Wisconsin–Madison Memorial Union, Villanova University, and UC San Diego by 2009.

Reflecting a commitment to academic research and education, Peet's contributed $250,000 in 2016 to establish the Coffee Center at UC Davis—the first university program dedicated to post-harvest coffee studies. This center works closely with the Specialty Coffee Association of America to offer grants and fellowships for graduate students. In April 2017, Peet's collaborated with UC Berkeley’s University Partnership Program to provide funding for student travel grants, scholarships, and paid internship opportunities.

Products

In September 2015, Peet's broadened its menu by introducing all-day breakfast selections, initially debuting in the Chicago area with intentions for a nationwide expansion.

A new coffee blend was crafted by Peet's in 2014 and incorporated into its coffeebar offerings by the summer of 2015. By July 2016, the company launched a bottled cold brew collection across 400 San Francisco venues, including both coffeebars and grocery outlets, featuring varieties such as Baridi Black, Coffee au Lait, and Dark Chocolate. The cold brew assortment was further enhanced in May 2017 with the addition of Almond Milk.

The opening of Peet's latest Washington D.C. location in December 2016 introduced a Slow Bar, presenting brewing techniques like French press, pour-over, and siphon.

In March 2025, Peet's revealed plans to discontinue extra charges for plant-based milk alternatives starting in June, aligning with shifting consumer preferences.

Influence

The founder of Peet's significantly influenced Starbucks' originators by mentoring them on store design and connecting them with key suppliers, shaping Starbucks' initial business approach.

Peet's has developed a devoted following known as "Peetniks," highlighting its substantial influence in the market.

As one of the early leaders in specialty coffee retailing and roasting, Peet's pioneered a darker, more intense coffee flavor profile that played a crucial role in defining America's gourmet coffee sector.

Additionally, two former Peet's staff members established Union Coffee Roasters in the United Kingdom, extending Peet's international footprint within coffee culture and entrepreneurship.

External links