From 3 to 7 March 2025, pure-play coffee and tea company JDE Peet’s repurchased 1,284,361 shares as part of its €250 million share buyback program.
On 3 March, the company announced the share buy-back program to reduce its capital. In the first five days of the program, it repurchased 1,284,361 shares at an average price of €18.25 (US$19.81) per share for a total consideration of €23.4 million (US$25.4 million).
In the statement on 3 March, the company said the main purpose of the program is to reduce the capital of JDE Peet’s by cancelling the majority of the ordinary shares acquired through the program. A small segment will be used to cover share-based renumeration obligations. At the current share price, the program represents a maximum of approximately 13.9 million shares, or 2.8 per cent of total shares outstanding.
Share buyback programs reduce the number of a company’s shares on the market, which in some cases can increase the value of the company’s remaining shares. The process sees the company buy back its own shares from shareholders.
Serving approximately 4100 cups of coffee or tea per second, JDE Peet’s consists of more than 50 coffee, tea, and hot chocolate brands. International brands include Kenco, L’Or, Stumptown, Tassimo, and Moccona. In 2024, JDE Peet’s generated total sales of €8.8 billion (US$9.55 billion) and employed a global workforce of more than 21,000 employees.
