Peet’s will keep its signature tea brand, and its familiar red, green, and purple tea tins, and Mighty Leaf will continue to operate independently, with access to Peet’s resources and scale. The union is poised to push another major coffee company into the high-growth category of specialty tea, similar to Starbucks purchase of Teavana. As with that acquisition, Peet’s is embarking on an evolution from one of the industry’s grandfather coffee businesses (Peet’s was founded in Berkeley, California in 1966 by a Dutch immigrant) to a more modernized and more tea-centric café chain.
—Regan Crisp is Fresh Cup’s associate editor.