Behind the name: a new coffee and tea powerhouse
JDE Peet’s was created in mid-December 2019 following the combination of two coffee brand namesakes: JDE (Jacobs Douwe Egberts) and Peet’s Coffee to explore the possibility of further growth through a joint IPO operation. This new global leader already spearheads the way in pure play FMCG coffee serving approximately 130 billion cups of coffee and tea in the financial year ended 31 December 2019 in more than 100 developed and emerging countries. This caffeinated power company boasted yearly revenues of €6.9 billion in FY 19 which whet investor interest. Demand was so strong that JDE Peet’s was able to shorten its IPO book-building process to less than the four customary weeks needed to stimulate necessary interest for the company’s listing.
Euronext Amsterdam hosted its first virtual IPO ceremony
JDE Peet’s representatives gathered, following the clear and strict local health guidelines established beforehand, to sound the gong to commence trading of JDE Peet’s shares on Euronext Amsterdam and celebrate this new entry on the public markets. While attending virtually, Casey Kelly, JDE Peet’s CEO, sounded the gong remotely with his team and didn’t miss a second of this exciting operation.
A practical lesson for the future: remote growth
Euronext has been proactive since the beginning of this crisis of world proportions to maintain stable and up-to-date communication channels with clients and issuers, promoting transparency about markets’ evolution and stock volatility. Through the use of our webcasting tools and telecommunication methods, we have been fully operational and able to provide for and assist companies in their growth ambitions regardless of their forced immobility. Companies listing remotely this year as a result is the greatest proof of this joint effort and achievement. This is a lesson in practicality that will surely prove useful in the future in showing that distance or isolation are not an obstacle to financial success.
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