Peet's Coffee & Tea is taking a majority stake in Chicago-based Intelligentsia Coffee. The co-founders of the gourmet coffee roaster and retailer are to retain "a significant stake," according to a news release. Intelligentsia was established in 1995 and, in addition to its roasting and wholesale operations, has about a dozen coffee bars, six of them in Chicago and others in Los Angeles, San Francisco and New York. Peet's, based in the San Francisco Bay Area, is controlled by Luxembourg-based JAB Holding Co. and just earlier this month inked a deal to acquire Stumptown Coffee Roasters of Portland, Ore.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below