Peet's Coffee

You know, when you're talking about international trade like that.

Especially, like, I mean, I saw that firsthand in Ethiopia where I was working with TechnoServe, right? We were, you know, essentially, like, the exporter of all of these, uh, co-ops, um, and had contracts with Starbucks, Peet's, you know, in addition to, um, the Stumptowns and, like, the specialty coffee.

But the majority of coffee that's bought out of Ethiopia that's, that is, uh, specialty, and it's, like, Starbucks, Peet's, uh, Nestle, right? They're all buying specialty coffee.

And you know, all these, you know, tons of farmers had contracts with Starbucks at, like, 2.20.

Mm-hmm.

... what kind of coffee are you drinking?

Oh, um, I'm drinking some Peet's Coffee.

It's a, a Mexican medium roast-

Mm

They weren't going to be these massive entities.

And like... there's only so many Starbucks, Peets, that kind of stuff, right? It's like we have everyone gunning to be the Veranos, the Vireos, the Curaleafs of the world, GTIs.

The importance, the stability of an industry, yes, you need to have retailers, but we need to open up retail.

We need to create more access.

Um, so we, we realized we could build a pretty darn nice campus here, uh, just with the existing buildings, just by renovating them.

Uh, and then there was a plot of land next door, uh, that was owned by Peet's Coffee, and we saw that as a, an important aspect of the site that we could potentially expand there.

Um, so that's exactly what we did.

We m- we renovated a few buildings.

So by that time, he, he had some money, but we were just at the beginning of raising venture money when I got there.

Yeah, I, I'd read the story that basically the founders of Starbucks bought Peet's Coffee.

That's correct.

And then he-

And the man they gained this knowledge from was a guy named Alfred Peet.

Alfred Peet was actually the founder of another coffee company called Peet's Coffee.

I know, I've actually never had Peet's, but I see it all the time.

It's kind of pricey.

I mean, they should be held accountable too.

I mean, damn, is there anywhere safe to get a cup of coffee? I mean, seriously, like, Okay, so after I did a little googling and googling and research and all that, I found one big coffee company that made it to a couple of like clean company lists I had found online.

Peet's Coffee and Tea, as in Alfred Peet's, who taught the Starbucks founders the art of roasting.

Well, it turns out that Peet's was actually acquired by Jab Holdings, which is a German mega company.

Ahead of its plan to split, Carrick Dr. Pepper announced it has sold its minority steak in Chobani to the yogurt maker for $800 million, along with a manufacturing plant in Allentown, Pennsylvania, bringing the total deal to $925 million.

Last year, the food and beverage conglomerate unveiled plans to buy Peet's Coffee parent J.D.E. Peet's for $18 billion and to spin off the Peet's and Keurig businesses into a pure play coffee company.

That spinoff is expected to be completed early next year.

And like a can of Dr. Pepper, shares in KDP started the day up, eventually turning flat.

I, listen- I, I rock it ...

I know Starbucks, Coffee Bean, Peet's, they're all a waste of money.

What are you trying to say, that your palate's so advanced? No, I, no.

Are you advanced palatte? Where you're- No, that's a, that's a workout class you take, right? [laughs] Advanced a pa- [laughs] Rich thinks he is...