![[PHOTOS] 2013 Celebrity Couples](http://cdn.ph.upi.com/sblc/8741368788463/8/PHOTOS-2013-Celebrity-Couples.jpg "[PHOTOS] 2013 Celebrity Couples")
1.
Rail said sufficient to deliver North Dakota crude oil
SAN FRANCISCO, July 23 (UPI) -- German conglomerate Joh. A. Benckiser is buying specialty coffee supplier Peet's Coffee & Tea Inc., for about $1 billion, the companies announced Monday.
Benckiser has agreed to buy the coffee and tea purveyor, which opened in Berkeley, Calif., in 1966, for $73.50 per share in cash, the companies said. The price is a 29 percent premium over Pete's closing price on Friday.
Peet's will be privately owned and will continue to be run by its current management team, the companies said.
Peet's President and Chief Executive Officer Patrick O'Dea said the firm would remain dedicated to "uncompromised quality."
"This commitment is what has distinguished the Peet's brand among all others and will continue to guide us going forward," he said.
The firms said Chicago merchant bank BDT Capital was advising the deal and was also participating as a minority investor.
|
|
|
|
|
|
| Additional Business News Stories | |
TEL AVIV, Israel, May 17 (UPI) --
Nobel Energy of Houston, which discovered Israel's big gas fields in the eastern Mediterranean, is pressing the government to decide soon on an energy export policy as the prospect of an undersea pipeline to Turkey gains credibility.
|
TEL AVIV, Israel, May 17 (UPI) --
mid growing concerns about security threats from Syria and Iran, Israeli Prime Minister Binyamin Netanyahu has greatly reduced planned defense budget cuts.
|
Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
|
Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
|
| Stories | Photos | Comments |
View Caption
