JDE Peet’s executes EUR 500 million share buyback
Amsterdam, 9 May 2022
- EUR 500 million worth of ordinary shares repurchased at the closing price on 6 May 2022
- Board approved the repurchase at an attractive price to the company and all stakeholders
JDE Peet’s (EURONEXT: JDEP), the world’s leading pure-play coffee and tea company by revenue, today announced it executed a share repurchase for a total amount of EUR 500 million. The shares were purchased from its shareholder Mondelez International Holdings Netherlands B.V. ("MDLZ") at a price per share equal to the market closing price on Friday 6 May 2022.
In highlighting the clear benefits of the transaction to the company and its stakeholders, including its shareholders, Fabien Simon, CEO of JDE Peet’s said: “This represents a unique opportunity to increase the free float percentage and improve our earnings per share at a very attractive price to the company. The Board (excluding the MDLZ nominees) carefully evaluated the transaction and concluded that it is in the best interests of the company and all its stakeholders.”
The transaction reflects the Board’s confidence in the future of the company. Olivier Goudet, Chairman of the Board of Directors, stated that “it was appropriate for the company to now take advantage of a great investment opportunity whilst the company enjoys the financial flexibility to give effect to this important transaction.”
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This press release contains information within the meaning of article 7(1) of the EU Market Abuse Regulation.
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About JDE Peet’s
JDE Peet’s is the world's leading pure-play coffee and tea company, serving approximately 4,500 cups of coffee or tea per second. JDE Peet's unleashes the possibilities of coffee and tea in more than 100 markets with a portfolio of over 50 brands including L’OR, Peet’s, Jacobs, Senseo, Tassimo, Douwe Egberts, OldTown, Super, Pickwick and Moccona. In 2021, JDE Peet’s generated total sales of EUR 7 billion and employed a global workforce of more than 19,000 employees. Read more about our journey towards a coffee and tea for every cup at www.JDEPeets.com.
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