JAB Holding Company

JAB Holding Company S.à r.l.
Private
Industry Conglomerate
Founded 1828 (1828)
Founders Ludwig Reimann
Johann Benckiser
Headquarters Luxembourg City, Luxembourg[1][2]
Key people
 Peter Harf, Bart Becht, Olivier Goudet, Matthias Reimann-Andersen, Renate Reimann-Haas, Stefan Reimann-Andersen, Wolfgang Reimann
Owners Reimann family
Number of employees
 7 (2016)[2]
Parent Agnaten SE[2]
Subsidiaries Coty, Inc. (38.1%)
Peet's Coffee
Mighty Leaf Tea
Caribou Coffee
Jacobs Douwe Egberts
Einstein Bros. Bagels
Keurig Dr Pepper (87%)
Krispy Kreme
Panera Bread
Bruegger's
Pret A Manger
Website jabholco.com

JAB Holding Company[3] (“JAB” or Joh. A. Benckiser) is a privately held German conglomerate, headquartered in Luxembourg, that includes investments of companies operating in the arenas of consumer goods, forestry, coffee, luxury fashion, and fast food, among others.[2][4][5]

Overview

JAB’s portfolio includes a minority stake in the consumer products company Reckitt Benckiser,[6] a majority stake in Coty, Inc., a majority stake in Peet’s Coffee & Tea, a majority stake in Caribou Coffee Company, a majority stake in Jacobs Douwe Egberts (JDE) and a majority stake in Einstein Noah Restaurant Group.[7][8][9][10] JAB also owns Bally, Belstaff, Zagliani, Espresso House and Baresso Coffee A/S.[11][12][13] JAB has given up on the plan to establish a holding of luxury goods makers, selling off its flagship fashion brands Jimmy Choo (now Michael Kors) and Belstaff (now Ineos). JAB owns a minority stake in Bally after selling it to Chinese Shandong Ruyi.[14]

In August 2014, under the Peet's Coffee and Tea brand, JAB acquired Mighty Leaf Tea, a specialty tea retailer based in the San Francisco Bay Area.[15] In October 2015, Peet's Coffee & Tea also acquired a majority stake in Chicago-based Intelligentsia Coffee & Tea,[16] making this the second purchase in a month following the acquisition of Portland, Oregon's Stumptown Coffee.

In March 2016, JAB and other investors acquired Keurig Green Mountain for $13.9 billion.[17][18] In May 2016, JAB-controlled JAB Beech reached an agreement to acquire US doughnut shop operator, Krispy Kreme, for $1.35 billion.[19] On 5 April 2017, JAB reached an agreement to buy U.S.-based Panera Bread, a fast casual bakery-café chain, for $7.5 billion.[20] On 24 August 2017, JAB announced the acquisition of Bruegger's Bagels.[21]

On 29 January 2018, Keurig Green Mountain announced it was acquiring Dr Pepper Snapple Group, with JAB owning 87% of the combined companies.[22]

Ownership

Owned by Germany’s Reimann family,[23] 90% of JAB Holding belongs to four of the late Albert Reimann Jr.'s nine adopted children.[24] They trace their wealth to chemist Ludwig Reimann, who, in 1828, joined with Johann Adam Benckiser (founder of the namesake chemical company). Reimann married one of Benckiser's daughters and ended up owning the business. Great-grandson Albert Reimann Jr. took over after his father died in 1952, and added consumer goods.[25]

Initially each of the nine children had inherited 11.1% ownership in JAB upon Albert's death in 1984. In the following years, five of the heirs sold their stakes to the other four: Matthias Reimann-Andersen, Renate Reimann-Haas, Stefan Reimann-Andersen and Wolfgang Reimann. As of January 2015, each of the four owns about $3.8 billion in JAB shares.[26]

The primary shareholder of JAB, as listed in its 2016 Consolidated Financial Statements, is Austrian-domiciled company Agnaten Holding SE.[2] Agnaten is listed, by PrivCo, as a subsidiary of Joh. A. Benckiser GmbH,[27] the investment vehicle of the Reimann family.[28]

References

  1. ↑ Arash Massoudi (September 11, 2012). "Coty postpones $700m IPO amid slowdown". Financial Times.
  2. 1 2 3 4 5 "Consolidated Financial Statements for the financial year ended 31 December 2016" (PDF). 31 December 2016: 1–58. Retrieved 21 December 2017.
  3. ↑ William Alden (September 29, 2014). "Bagel Maker Einstein Noah Sold to German Firm for $374 Million". The New York Times.
  4. ↑ Chelsey Dulaney (September 29, 2014). "Einstein Noah Agrees to $374 Million Buyout". The Wall Street Journal.
  5. ↑ Jonathan Braude (October 17, 2014). "Jimmy Choo bravely steps onto London market after IPO". The Deal.
  6. ↑ Joan E. Solsman (July 23, 2012). "Peet's Coffee to Be Taken Private for $1 Billion". The Wall Street Journal.
  7. ↑ Macdonald, Alastair; Geller, Martinne; Landini, Francesca (5 May 2015). "Mondelez, D.E Master Blenders coffee venture gets EU nod". Reuters.
  8. ↑ Mary Ellen Podmolik (September 29, 2014). "JAB Holdings to buy bagel seller Einstein Bros.' parent for $374 million". Los Angeles Times.
  9. ↑ Mary Ellen Podmolik (September 29, 2014). "Einstein bagels parent to be acquired by majority owner of Peet's, Caribou Coffee". Chicago Tribune.
  10. ↑ Julia Kollewe and Jill Treanor (October 17, 2014). "Jimmy Choo shares edge higher on stock market debut". The Guardian.
  11. ↑ Jana Simmons (October 17, 2014). "Jimmy Choo Lists in London, With Shares at Bottom of Range". The Wall Street Journal.
  12. ↑ "JAB Furthers Coffee-Shop Expansion With Deal for Nordic Leader". Bloomberg Business. 2 June 2015.
  13. ↑ Kongskov, Jesper; Friis, Lasse (22 June 2015). "Baresso sold to German coffee family". Berlingske Business.
  14. ↑ "Subscribe to read". Financial Times. Retrieved 2018-03-13.
  15. ↑ "Peet's Coffee & Tea Acquires Mighty Leaf Tea to Accelerate Its Growth in the Premium Tea Category". Business Wire. Peet's. August 1, 2014. Archived from the original on 7 October 2014. Retrieved 23 September 2014.
  16. ↑ "Peet's Coffee & Tea Buys Intelligentsia Coffee".
  17. ↑ "JAB completes acquisition of Keurig Green Mountain". Vermont Business Magazine. March 3, 2016.
  18. ↑ "JAB Holding Company-Led Investor Group Completes Acquisition of Keurig Green Mountain, Inc.". Business Wire. March 3, 2016.
  19. ↑ "Krispy Kreme to be Acquired by JAB Beech for $21 Per Share in Cash". Business Wire. Krispy Kreme. May 9, 2016. Retrieved 9 May 2016.
  20. ↑ "Krispy Kreme owner pays $7.5bn for Panera Bread chain". BBC News. 5 April 2017. Retrieved 5 April 2017.
  21. ↑ Dan DeBaun, "Caribou Coffee buys Bruegger's Bagels", 'Minneapolis / St. Paul Business Journal', August 24, 2017
  22. ↑ "K-Cup maker Keurig bets big on beverages, buying Dr Pepper Snapple". CNBC. 29 January 2018. Retrieved 17 March 2018.
  23. ↑ "Reimann family's JAB agrees Panera Bread takeover". ft.com (Finantial Times). Retrieved 2017-04-05.
  24. ↑ "Reimann-Holding-Chairman Bart Becht: "Kaffee bietet eine einmalige Chance"" (in German). Retrieved 2018-03-13.
  25. ↑ "Germany's intensely private and immensely wealthy Reimann family". FT. 11 March 2016. Retrieved 17 March 2018.
  26. ↑ "Matthias Reimann-Andersen". Forbes. Retrieved 30 January 2015.
  27. ↑ "Agnaten Holding SE". privco.com. PrivCo. Retrieved 21 December 2017.
  28. ↑ "Joh. A. Benckiser GmbH". privco.com. PrivCo. Retrieved 21 December 2017.
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