In Wake Of $18 Billion Acquisition By Keurig Dr Pepper, Peet's Coffee Set To Close Over Two Dozen Locations By End Of Month – CoffeeTalk

California-based Peet’s Coffee is set to close over two dozen locations in the San Francisco area by the end of January 2026, alongside an additional closure in Evanston, Illinois. This decision represents a significant contraction of Peet’s domestic presence, with the company ending 2024 with 255 units, marking a 1.2% decrease from the previous year and a drop from nearly 400 locations at the end of 2019.

In an email statement to Nation’s Restaurant News, Peet’s Coffee attributed these closures to the need to realign its operations with long-term growth priorities and current market conditions. The spokesperson expressed gratitude to employees and customers for their loyalty, emphasizing the company’s commitment to quality and innovation as it navigates these changes.

This strategic decision follows a broader industry movement, specifically Keurig Dr Pepper’s recent $18 billion acquisition plan for JDE Peets, announced in August. The takeover bid was officially launched last week, with expectations for completion in the second quarter of 2026. The acquisition plans entail dividing the coffee and beverage segments into two distinct publicly traded entities.

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