Palo Alto, Calif. – July 23, 2012 – Cooley LLP announced today that it is advising Peet's Coffee & Tea, Inc. in its sale to Joh. A. Benckiser (JAB). JAB has agreed to acquire Peet's for $73.50 per share in cash, or a total of approximately $1 billion. The transaction is expected to close in approximately three months, subject to customary closing conditions, including receipt of shareholder and regulatory approvals.
At the close of the transaction, Peet's will be privately owned and will continue to be operated by the company's current management team and employees.
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