Wednesday, March 16, 2011

Report: Starbucks and Peet's in Merger Talks

By Ellen Cushing
Wed, Mar 16, 2011 at 10:48 AM

Whoa. According to a report by Reuters, the East Bay's homegrown coffee behemoth, Peet's, may be considering a sale to megachain Starbucks. Though it's important to note that reps from neither company would discuss the matter with Reuters, and that rumors of this kind have been swirling for months and even years, this could be huge: Peet's has almost 200 stores and a market value of about $589 million, while Starbucks, of course, more or less runs the specialty-coffee universe, with some 17,000 stores worldwide and an estimated value of over $26 billion.

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