JAB Agrees to Purchase D.E Master Blenders for EU12.50 a Share
Joh. A. Benckiser, the investment arm of the billionaire Reimann family, agreed to buy D.E Master Blenders 1753 NV for 12.50 euros a share, less than the price originally disclosed by the parties last month.
The offer values the maker of Senseo coffee at about 7.5 billion euros ($9.8 billion), the companies said in a statement today. Amsterdam-based Master Blenders was spun off from Sara Lee Corp. last year. The board fully supports the offer, it said in the statement.
The acquisition adds to JAB’s coffee holdings after the company, that former Reckitt Benckiser Group Plc (RB/) Chief Executive Officer Bart Becht helps run, agreed to buy U.S.-based coffee chains Peet’s Coffee & Tea Inc. and Caribou Coffee Co. for more than $1 billion in total last year.
JAB and Master Blenders announced on March 28 that they were in discussions that could lead to a deal at 12.75 euros a share, triggering a 25 percent increase in Master Blenders’ share price that day.
For Related News and Information:
To contact the reporter on this story: Julie Cruz in Frankfurt at firstname.lastname@example.org
To contact the editor responsible for this story: Celeste Perri at email@example.com