Starbucks in Talks to Purchase Peet’s Coffee & Tea
CNBC, citing a DealReporter report, is reporting that Starbucks has held talks with Emeryville-based Peet’s Coffee & Tea about a potential sale.
Both Peet’s CEO Patrick O’Dea and a spokesman for Starbucks declined to comment, although rumors about the two companies joining forces has been floating around for months.
Peet’s sells packaged coffee through retailers like Safeway and Kroger and also operates almost 200 retail stores in six states.
The talks come as Peet’s is said to be looking to get into the fast-growing single-cup coffee market. Last week, Starbucks announced a deal in which Green Mountain Coffee roasters would sell Starbucks coffee for its Keurig single-cup machines and Starbucks would sell the Keurig machines.
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