Popular coffee-chain to close 30 locations next week amid $18B takeover deal
A major craft coffee company is planning to shutter 30 locations by the end of January after a massive $18 billion all-cash takeover bid.Peet’s Coffee confirmed the news to MassLive in an emailed statement, citing a shift in corporate priorities.“Peet’s has made the difficult decision to close a number of Peet’s Coffee locations by the end of January 2026. These closures reflect a broader effort to align our business with long-term growth priorities and current market conditions,” a spokesperson said. “We are deeply grateful to our incredible employees and loyal customers for their continued commitment to the brand. As we move forward, we remain dedicated to the quality, craftsmanship, and heritage that have defined Peet’s for the past 60 years, while embracing new opportunities to innovate and grow.”While a list of closures has not been released, reports from Nation’s Restaurant News indicate cuts will heavily impact the San Francisco Bay area. It is unclear if the closures affect the brand’s five Massachusetts locations which include the University of Massachusetts Amherst, Boston Logan International Airport and the Massachusetts College of Art and Design. The restructuring comes as Keurig Dr Pepper moves to acquire Peet’s parent company, JDE Peet’s. The $18 billion deal, expected to close in the second quarter of this year, will split the combined businesses into two separate, publicly traded companies, according to Reuters.Peet’s currently operates over 465 locations across the U.S., China and the Middle East.
