Closure of Peet’s Coffee Locations Following Acquisition

Peet’s Coffee, a beloved California-based chain, is set to close more than 30 locations as part of a recent acquisition for $18 billion. This change follows a deal with JDE Peet’s, the parent company of Peet’s.

The San Francisco store located in the Polk Gulch area will shut its doors by month’s end, according to a spokesperson. Many other locations, rooted in the brand’s Berkeley origins, are expected to follow.

Stephanie O’Brien, the company’s spokesperson, mentioned that the closures are part of a strategy to align with lasting growth goals and adapt to the current market landscape. The Polk Street café, which debuted in 1993, is among those impacted.

“We truly appreciate our wonderful staff and loyal patrons who have supported us over the years,” O’Brien stated. “While we remain committed to the quality and tradition that Peet’s has provided for over six decades, we are looking towards innovation and new growth opportunities.”

Other affected locations include stores on Cole Street and Market Street in San Francisco.

In a significant move, Keurig Dr. Pepper is in the final stages of acquiring JDE Peet’s in an all-cash deal anticipated to conclude by year’s end. This acquisition marks a transformative period for the coffee chain.

Some patrons have expressed disappointment, reflecting on their long-standing relationship with Peet’s as a local fixture, noting it feels different now with the brand’s sale to a larger corporation.

Peet’s Coffee first opened in Berkeley in 1966 under Alfred Peet, who brought his love for dark roasts from Indonesia. Struck by the poor quality of American coffee, he aimed to elevate the standards and end up mentoring founders of what would become Starbucks.

As coffee prices continue to rise, recent data shows cities like Los Angeles and San Francisco have some of the highest coffee costs in the nation, with averages nearing $5.