On April 1, 1966, Alfred Peet first opened the doors of his coffee store in Berkeley, CA, and quietly ignited a revolution that forever changed the expectations of American coffee drinkers.
Alfred Peet (pictured on the right) formed Peet’s in Berkley, California in 1966. (click here for more info on Alfred Peet) Originally Peet’s locations just sold beans – no drip coffee, latte’s etc.
Alfred Peet (pictured on the right) formed Peet’s in Berkley, California in 1966. (click here for more info on Alfred Peet)
In 1966, Peet opened the first "Peet's Coffee, Tea & Spices" in Berkeley, California on Vine Street near the University of California, Berkeley campus.
He fell in love with the concept and, in 1982, convinced the Starbucks founders to hire him as Director of Marketing.
In 1984, Jerry Baldwin, a Starbucks founder, bought Peet's four locations from Sal Bonavita.
Upset that neither Peet nor the Starbucks founders wanted to add espresso bars into other locations, in 1985 Howard Schultz quit Starbucks and started his own espresso bar chain called Il Giornola.
In 1987, Baldwin and his Starbucks co-investors sold Starbucks to focus on Peet's.
Peet’s went public in October 2000 – and has conquered my taste buds.
In 2001, the company was incorporated as Peet's Coffee and Tea Company and had its initial public offering.
Peet's opened a roasting plant in Alameda in 2007.
In 2012, employees at a Peet's location in Chicago formed Peet's Worker's Group to address concerns about compensation, irregular scheduling, sick leave, and working conditions which resulted in frequent wrist injuries.
In 2012, Peet's was taken private when it was acquired by Joh.
In August 2014, Peet's acquired Mighty Leaf Tea, a specialty tea brand based in the Bay Area, in partnership with Next World Group.
In December 2016, Peet's announced that it was building a second roaster in Suffolk, Virginia.
Peet's opened its first location in Shanghai, China, in October 2017.
Defying the coronavirus pandemic and economic slowdown, it was the largest initial public offering in Europe during the first five months of 2020 and the second biggest IPO in the world.
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