The JAB Holding-backed company has strengthened its presence in the premium infusion and tea market and expects Les 2 Marmottes to enrich its portfolio of tea brands
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JDE Peet's said Les 2 Marmottes would enrich its tea brands portfolio | Photo credit: Les 2 Marmottes
Netherlands-headquartered JDE Peet's is set to acquire French tea brand Les 2 Marmottes for an undisclosed fee.
A statement from the JAB Holding-backed company said Les 2 Marmottes would enrich its tea brands portfolio.
JDE Peet’s also confirmed that the Haute-Savoie-based company will continue to operate independently and retain its 90 employees.
However, Les 2 Marmottes CEO Christian Polge will be replaced by Pascal Jacquin following the acquisition. Jacquin is currently Commercial Director of JDE Peet’s French and domestic overseas territories division.
“JDE Peet’s is pleased to confirm the acquisition of Les 2 Marmottes, a French company specialising in the premium infusion and tea market. The two companies are complementary, Les 2 Marmottes enriching JDE Peet’s tea brands portfolio. In order to preserve its uniqueness, its know-how and its strong growth dynamic, Les 2 Marmottes will continue to operate independently,” the statement said.
JDE Peet’s has a presence in over 100 global coffee and tea markets and owns approximately 50 brands, including the Pickwick and Bell Tea brands, and major coffee labels L’OR, Peet’s, Jacobs, Tassimo and Douwe Egberts.
The company achieved sales growth of 15.7% in the first six months of 2022 to
reach €3.9bn ($4bn).
Launched in 1976, Les 2 Marmottes produces a range of loose-leaf and herbal teas. The brand was taken over by French investment fund French Food Capital in 2018 and posted 2021 revenues of €20m ($20m).