JDE Peets to expand in Australia following acquisition of specialty coffee leader Campos Coffee

AUSTRALIA – JDE Peet’s, the world’s largest pure-play coffee and tea group by revenue, is set to acquire Campos Coffee in an effort to bolster its presence in Australia’s coffee market.

Founded in 2002 in Newtown, Sydney, Campos Coffee is a specialty coffee leader in Australia, with its award-winning Signature Blends now being brewed in over 600 cafes nationwide under the Campos and Sacred Grounds brands.

In 2020, Campos generated revenues of approximately $50 million AUD (US$38.52 million) and expanded its availability to coffee lovers at home, offering premium whole bean blends online and in selected Woolworth’s supermarkets

JDE Peet’s expects the company’s growing and strong business to complement its Australian coffee business which includes brands such as L’OR, Moccona, Harris, Piazza Doro, Espresso Di Manfredi, Two Seasons and Pickwick.

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“The business is a perfect fit for us and we look forward to welcoming the Campos team to our world of coffee and tea, learning from each other’s expertise and building on their award winning coffee experience,” said Albert Moncau, General Manager, JDE Peet’s Australia & New Zealand.

Will Young, the Founder of Campos said that the acquisition will enable the Campos brand to further unlock its true potential.

“We are confident that Campos can and will continue to grow under their stewardship by continuing to focus on what made us Australia’s number one specialty coffee brand – high quality coffee and great service to our café partners.”

JDE Peet’s inaugural EUR 2 billion bond issue

Earlier, JDE Peets announced that it managed to successfully price its inaugural EUR 2 billion aggregate principal of bonds.

Scott Gray, CFO of JDE Peet’s said: “Our successful inaugural bond issuance is another major milestone in the continuous improvement of our capital structure and the evolution of JDE Peet’s”.

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According to a statement from the company, the Notes will be senior unsecured obligations with investment-grade terms and will have a weighted average maturity of 7.6 years.

They were issued under JDE Peet’s newly established EUR 5 billion Guaranteed Debt Issuance Programme and guaranteed by JACOBS DOUWE EGBERTS International B.V. and Peet’s Coffee, Inc.

JDE Peets plans to use the proceeds of the Notes to refinance existing debt facilities and for general corporate purposes.

“This transaction will reduce the overall cost of debt while further improving our maturity profile and diversifying JDE Peet’s financing sources,” detailed Gray.

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