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WIKI ANALYSIS
Headquartered in Berkeley, California, Peet's Coffee & Tea, Inc. is a specialty coffee roaster and marketer of fresh roasted whole bean coffee through multiple distribution channels, including grocery stores, home delivery (both mail order and online), offices, restaurants, food service accounts, and company-owned stores in six states. The company also offers hand-selected tea and related items, such as brewing equipment, paper filters, cups, saucers, and travel mugs. The company reports through two business segments: retail stores (64.3% of 2008 sales) and specialty sales 35.7%). The company’s initial public offering in January 2001 raised net proceeds of $17.8 million, which were used for debt reduction. A secondary offering in March 2002 provided net proceeds of $41 million for the construction of a new roasting facility in Alameda, California.
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