Peet's Plans U.S. Store Closings as Parent Company Takeover Begins

""These closures reflect a broader effort to align our business with long-term growth priorities and current market conditions," Peet's Coffee said in an emailed statement to Daily Coffee News. "We are deeply grateful to our incredible employees and loyal customers for their continued commitment to the brand. As we move forward, we remain dedicated to the quality, craftsmanship and heritage that have defined Peet's for the past 60 years, while embracing new opportunities to innovate and grow.""

"Peet's Coffee has confirmed a wave of cafe closings by the end of January, including several Bay Area locations, as the chain reshapes its retail footprint. The closures come as Keurig Dr Pepper works to acquire Peet's parent company, JDE Peet's, in a transaction valued at about $18 billion. That takeover bid officially launched last week, according to a Reuters report, and is expected to result in a spun-off coffee conglomerate under the name Global Coffee Co."

"Alfred Peet opened the first Peet's shop in Berkeley on April 1, 1966, helping shape a generation of American coffee tastes around darker roasts, Italian-inspired espresso drinks and freshly roasted coffees. At an investor conference in July 2025, less than two months before the Keurig Dr Pepper acquisition announcement, Peet's executives outlined a new vision for the brand in the U.S., including a focus on franchising and broader retail distribution of packaged products."

Peet's Coffee will close multiple cafes by the end of January, including several Bay Area locations, while also shutting at least three Chicago-area shops. The company has not publicly disclosed the specific stores affected, though local reports indicate roughly 30 Bay Area closures. The wave of closures coincides with Keurig Dr Pepper's effort to acquire Peet's parent company, JDE Peet's, in an about $18 billion transaction expected to create a spun-off Global Coffee Co. Peet's framed the closures as alignment with long-term growth priorities and market conditions and expressed gratitude to employees and customers. The brand dates to 1966 and is shifting toward franchising and broader packaged retail distribution.

Read at Daily Coffee News by Roast Magazine