October 01, 2016 7:24 PM ET

Hotels, Restaurants and Leisure

Company Overview of Peet's Coffee & Tea, Inc.

Company Overview

Peet’s Coffee & Tea, Inc., together with its subsidiaries, operates as a specialty coffee roaster and marketer of fresh-roasted coffee and tea in the United States. It offers whole bean coffee and related products consisting of products for home brewing, tea, and packaged foods; and beverages and pastries. The company sells its Peet’s brand coffee and tea through various channels of distribution, including grocery stores, home delivery, office, and restaurant and foodservice accounts, as well as company-owned and-operated stores. As of January 1, 2012, it operated 196 retail stores in California, Colorado, Illinois, Oregon, Massachusetts, and Washington. Peet’s Coffee & Tea, Inc. was founded...

1400 Park Avenue

Emeryville, CA 94608-3520

United States

Founded in 1966

811 Employees

Phone:

510-594-2100

Fax:

510-594-2180

Key Executives for Peet's Coffee & Tea, Inc.

Chief Executive Officer and President
Age: 54
Chief Financial Officer, Vice President and Principal Accounting Officer
Age: 55
President of Retail
Age: 57
Chief Supply Chain Officer and Vice President
Age: 50
Vice President of Coffee
Compensation as of Fiscal Year 2016.

Peet's Coffee & Tea, Inc. Key Developments

Peet’s Coffee Unveils its New Ready-To-Drink Line

Peet’s Coffee unveiled its new ready-to-drink (RTD) line with Baridi Black, Coffee au Lait, and Dark Chocolate. The new line features high-quality ingredients, including Peet’s freshly-roasted beans that are cold brewed to the same standard used in its cafés. Peet’s Cold Brew will ship starting on July 25, 2016 and will soon be available in select Peet’s Coffee cafés, grocery stores, and partner locations in the San Francisco Bay Area before expanding into new markets. The new RTD Cold Brew, with a suggested retail price of $3.99, comes in three delicious offerings: Baridi Black Cold Brew—the purest expression of Cold Brew from Peet’s Coffee, served straight up in a 12oz glass bottle. Coffee au Lait Cold Brew—a coffee-forward pairing of Baridi Black with the freshest rBST-free milk and pure cane sugar, in a 10oz carton. Dark Chocolate Cold Brew—Baridi Black made even more irresistible with the freshest rBST-free milk and rich Guittard cocoa, in a 10oz carton. In keeping with the company’s reputation for expertly crafted coffee, the base for the new Cold Brew RTD line starts with the proprietary East African Baridi Blend, sourced from smallholder farms, and specially selected for its bright, juicy, and aromatic profile. Each batch is hand roasted by Peet’s highly trained artisans and is then slow brewed without heat for a smooth, refreshingly bold coffee. To uphold the strict standards Peet’s has for quality, flavor and freshness, each recipe is perfected with carefully sourced ingredients, including real cane sugar, rBST-free milk, and rich cocoa from Guittard Chocolate Company—a family-owned Bay Area chocolatier for more than five generations. There are no artificial ingredients, colors or preservatives, and no carrageenan. Peet’s is providing Direct Store Delivery (DSD) of RTD Cold Brew beverages in its own refrigerated trucks to ensure product makes it to shelves as quickly as possible and under the best conditions, so every bottle and carton is as fresh and flavorful as possible.

Peets Coffee & Tea Faces Lawsuit with Regard to Overcharging Customers

A suit filed in Cook County Circuit Court alleged that Peets Coffee & Tea has knowingly overcharged customers who've purchased its French Press coffee. Dan Voelker, the Chicago litigation attorney who filed the suit on Oct. 30, said the suit is 'very similar to the suit filed against Subway, alleging the sandwich maker advertised foot-long sandwiches that were actually about a less than a foot.' In the Peets suit, Voelker said the coffee maker's 'in-store signage has been advertising its French Press coffee as containing 12- and 32-ounce servings, when they are actually at least 25% less than advertised.' The suit alleged that Peets acted to defraud the plaintiff, Robert Garrett, and other consumers, through false and misleading information via point-of-purchase in-store signage and menus intended to trick unsuspecting consumers. The proposed class action suit seeks unspecified damages on behalf of potentially thousands of customers who believed that they purchased more ounces of press pot coffee for their money than they actually received.

Peet’S Coffee & Tea Appoints Paul Clayton to President, Retail

Peet’s Coffee & Tea announced the appointment of Paul Clayton to President, Retail. Clayton joins Peet’s in early November and will report directly to President and CEO, Dave Burwick. In this role, Clayton will lead Peet’s retail business, which includes 237 company-owned stores across the United States. He will oversee all aspects of retail, including store and people operations, store design, merchandising, pricing, real estate and property development. Clayton is a world-class retail executive with three decades of experience in a variety of specialty retail, food and beverage industries. Most recently, he was CEO of Umami Restaurant Group, a specialty gourmet burger restaurant chain headquartered in Los Angeles.

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