Starbucks in Talks to Buy Peet's Coffee - NBC 7 San Diego

Starbucks in Talks to Buy Peet's Coffee



    Peet's Coffee will soon be serving up specialty brews from Godiva Chocolate.

    Peet's Coffee may soon become a part of the Starbucks empire, according to Reuters. Both company's CEOs have declined to comment, however.

    The Emeryville company apparently held talks with Starbucks about a potential sale. Rumors have floated around the coffee industry for months, but this is the first concrete news we've had about a deal.

    Peet's sells packaged coffee at Albertson's supermarkets and has 192 retail stores in six states.

    Peet's has a market value of $589 million as of Tuesday's market close, according to the wire service.

    Word of a deal may have Peet's loyal followers (Peetniks) up in arms.