Peet’s Coffee raises $2.5 billion in an IPO despite the coronavirus pandemic
Peet’s Coffee raised $2.5 billion in its initial public offering, one of the largest this year despite the coronavirus pandemic.
The company announced its IPO plans just 10 days ago.
Shares of Peet’s Coffee surged as much as 17% in its first day of trading.
Read more on Business Insider.
A bet that coffee could withstand a pandemic and ensuing economic downturn has paid off for the European investment firm responsible for Peet’s Coffee, Krispy Kreme, and Keurig.
JDE Peet’s BV, carved out of JAB Holdings, said Friday it raised $2.5 billion, or 2.3 billion euros, in its initial public offering. The company is selling about 71.4 million shares, or 14% of the business, at 31.50 euros per share. See the rest of the story at Business Insider
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