Peet’s Plans U.S. Store Closings as Parent Company Takeover Begins

Peet’s Coffee has confirmed a wave of cafe closings by the end of January, including several Bay Area locations, as the chain reshapes its retail footprint.

The closures come as Keurig Dr Pepper works to acquire Peet’s parent company, JDE Peet’s, in a transaction valued at about $18 billion. That takeover bid officially launched last week, according to a Reuters report, and is expected to result in a spun-off coffee conglomerate under the name Global Coffee Co.

“These closures reflect a broader effort to align our business with long-term growth priorities and current market conditions,” Peet’s Coffee said in an emailed statement to Daily Coffee News. “We are deeply grateful to our incredible employees and loyal customers for their continued commitment to the brand. As we move forward, we remain dedicated to the quality, craftsmanship and heritage that have defined Peet’s for the past 60 years, while embracing new opportunities to innovate and grow.” 

Beyond the Bay Area store manager in Evanston, Illinois, told the Daily Northwestern that the company was closing at least three locations in the Chicago area. Peet’s has not publicly disclosed which stores it is closing. The SF Chronicle reported that store managers described the changes as affecting roughly 30 Bay Area shops.

Alfred Peet opened the first Peet’s shop in Berkeley on April 1, 1966, helping shape a generation of American coffee tastes around darker roasts, Italian-inspired espresso drinks and freshly roasted coffees. 

At an investor conference in July 2025, less than two months before the Keurig Dr Pepper acquisition announcement, Peet’s executives outlined a new vision for the brand in the U.S., including a focus on franchising and broader retail distribution of packaged products. 

[Note: This story has been updated since its original publication to include a statement received from Peet’s Coffee.]

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