Peet’s Coffee & Tea Inc. said Monday it has entered into a definitive agreement to be acquired by European holding company Joh. A. Benckiser (JAB) for $73.50 per share, or about $1 billion, reports Nation's Restaurant News. The deal, which would take Peet’s private, will allow the company to continue to be operated by its current management team and employees. JAB is a privately held group focused on investments in premium brands in the consumer goods category.

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