Operation
Peet's operated 193 retail locations within the US as of the first quarter of 2010. Most locations are in California, with further locations in Washington, Oregon, Colorado, Illinois, and Massachusetts.
Peet's has outlets at many transit centers, including several airport locations, such as both major Houston airports (HOU and IAH), Reno/Tahoe (RNO) in Reno, Nevada, Kennedy Airport (JFK) in New York City, Philadelphia International Airport (PHL), and all three major airports in the San Francisco Bay Area (SFO, OAK, & SJC). A number of franchised Peet's kiosks opened in BART stations around the Bay Area in early 2008.
In 2003, the first full-service Peet's store on a university campus was opened within the Clark Center building at Stanford University. Peet's coffee is also currently served at all Stanford Dining locations. In 2005, UC Berkeley opened its own Peet's franchise on campus in Dwinelle Hall and as a campus restaurant near its existing dining area. Similarly in 2009, locations opened at the UW–Madison, Villanova University, Memorial Union and at UC San Diego.
Peet's coffee beans are sold at a number of grocery stores in the United States, including the Dominick's chain in the Chicago area.
Peet's has been much slower to expand than Starbucks, focusing more on coffee and tea retailing, with a more limited selection of coffee drinks at their stores. Peet's is still primarily a California operation, with a few stores in other metropolitan areas (see below) and a short-lived four-store partnership in Tokyo. Peet's also operated a store in Austin, Texas from 2001 to 2005.
The company went public in January 2001 (symbol PEET). After a very successful IPO, shares struggled through the first year but have posted solid gains ever since. As of May 2011, Peet's has a market cap of roughly $636 million, about 2.3% of Starbucks's roughly $27.2 billion.
In 2007 Peet's opened a roasting plant in Alameda. This new plant replaced the former operations in Emeryville, California, and is a "green" facility.
In 2012, Peet's announced its acquisition by the German company Joh. A. Benckiser for $974 million. Benckiser is a holding company which is a part holder of the consumer products company Reckitt Benckiser.
Read more about this topic: Peet's Coffee & Tea
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