International coffee and tea conglomerate JDE Peet’s has announced its latest update in its share buyback scheme, which has now surpassed €70 million worth of shares repurchased.
The 37,417 shares repurchased between 9 and 13 June has taken the total number of shares repurchased under the program to 3,728,885 ordinary shares at a total cost of €70.0 million.
The shares repurchased in this period came at an average cost of €23.90 per share for a total consideration of €0.9 million.
JDE Peet’s initially announced its share buyback scheme to shareholders in February 2025, and commenced the scheme on 3 March.
It is being executed by an intermediary and has been purposed to reduce the capital of the business through the cancellation of virtually all the ordinary shares acquired through the program.
At the program’s commencement, it was hoped the €250 million would cover the repurchasing of approximately 13.9 million shares, or 2.8 per cent of total shares outstanding.
