Peet's Coffee & Tea selling for $1 billion Around Town, posted by Editor, Mountain View Voice Online, on Jul 24, 2012 at 4:21 pm
Longtime Bay Area fixture Peet's Coffee & Tea Inc. will be sold to a German company for $1 billion, the Emeryville-based company announced in a statement Monday. Peets has several locations in Mountain View.
Read the full story here Web Link posted Tuesday, July 24, 2012, 1:23 PM
Posted by Max Hauser, a resident of the Old Mountain View neighborhood, on Jul 24, 2012 at 4:21 pm Max Hauser is a member (registered user) of Mountain View Online
News reports of the recent sale are widespread, but none that I've seen mentions that this is at least the _second_ sale of the Peet's "brand." Mr Peet himself sold the business in the 1970s. The expansion from a single shop to a chain began some years later.
I grew up with the original Peet's, which for a good half of its history was one shop. Peet's Coffee, Tea, and Spices opened in my neighborhood Berkeley in the 1960s, prefiguring the later food shops (Cheese Board, Pig by the Tail Charcuterie, etc.) and eventually restaurants too (Chez Panisse, 1971, then others) that gave the area around Shattuck and Cedar in Berkeley the eventual nickname "Gourmet Ghetto." As a kid I bought things at Peet's like Tellicherry peppercorns and raw cacao beans to make chocolate from "scratch."