Coffee firm Douwe Egberts agrees on takeover bid
April 14 , 2013
The world’s third biggest coffee maker, DE Master Blenders, has agreed to be bought for $9.84 billion.
The Dutch firm behind the Douwe Egberts coffee brand said it had agreed to the offer made by the JAB group, led by German investor Joh A Benckiser.
JAB will add Douwe Egberts to its portfolio of coffee brands, which includes Caribou Coffee and Peet's Coffee & Tea.
JAB was already the largest shareholder in DE Master Blenders, with a stake of more than 15 percent.
The acquisition comes as JAB sets out to build a beverage company to rival the global leader Nestlé.
Nestlé sold $17.12 billion worth of coffee last year, while Mondelez International (formerly known as Kraft) came in second with $8.32 billion.
DE Master Blenders, which also owns Senseo coffee and Pickwick Tea, sits at third place with annual sales of $3.48 billion.