Mondelez International has successfully completed the sale of its stake in the renowned Dutch coffee maker JDE Peet's, making a significant move in the beverage and snack food industry. The transaction, valued at 2.16 billion euros (approximately $2.34 billion), involves the sale of Mondelez's 86 million-share holding in JDE Peet's at a price of 25.10 euros per share, according to a recent statement issued by investment firm JAB.
This deal marks a critical juncture for Mondelez, which held approximately 17.63% of JDE Peet’s, according to data from Capital IQ. Furthermore, JAB has distributed an additional 43 million shares, equating to about 9% of JDE Peet's share capital, to a diverse group of over 70 investors participating in the JAB Consumer Partners fund.
This strategic distribution has effectively increased the company’s liquidity, raising the free float to 32%. By acquiring the stake from Mondelez and redistributing shares, JAB now holds a commanding total interest of 68% in JDE Peet's. Joachim Creus, Chief Executive Officer of JAB, emphasized the significance of these transactions, stating, 'These transactions represent a major milestone for JDE Peet’s, which is now a more widely held blue-chip company.
We are fully committed to remaining an anchor shareholder of the world’s leading pure-play coffee and tea company.' Despite Mondelez’s notable exit from JDE Peet's, the company did not respond immediately to inquiries regarding the deal’s implications. However, data reveals that Mondelez’s stock experienced a slight uptick of 0.4% in pre-market trading, indicating potential investor optimism surrounding this strategic divestment. Reflecting on Mondelez's history with JDE Peet's, it is noteworthy that in May 2020, the Oreo maker announced its involvement in JDE Peet's IPO and subsequent listing on the Euronext Amsterdam stock exchange.
During that announcement, Mondelez indicated it would eventually sell a part of its stake as part of the secondary offering, while retaining two board seats at JDE Peet's. In a further development, JDE Peet's also confirmed the appointment of Rafael Oliveira as its new chief executive, effective November 1.
Oliveira transitions from Kraft Heinz, where he held various executive positions, including the role of president for international markets. This leadership change signals JDE Peet's ongoing evolution as a key player in the competitive coffee market, particularly as it bolsters its management team to navigate future challenges and opportunities. Current Stock Price: 71.87, Change: +0.29, Percent Change: +0.41..