Joh. A. Benckiser is buying the coffee chain that Dutch-born Alfred Peet started in Berkeley, Calif., in the 1960s. The shop inspired Starbucks' founders, and Peet taught them how to roast coffee. Unlike Starbucks, Peet's stayed small, with about 200 stores. The headquarters will remain in northern California.
Peet's Coffee Sold For Nearly $1 Billion
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