Sweet, slightly earthy, herbal nuances with a gutsy richness
Ground & Whole Bean Coffee
Peet's Coffee started out in 1966 as a specialty coffee and roasting company. The company is known to the "Peetniks" for its strong, dark roasted coffee. "Peetniks" being long term customers who favor the varieties of specialty teas and coffees they offer.
The first store was located in Berkeley, California in 1966 by the founder Alfred Peet. During Starbucks first year in business they purchased coffee beans from Peet's. They agreed to not compete against each other in the Bay area.
Peet's Coffee differs from Starbucks in that they are in the the business of being a coffee and tea retailer, whereas Starbucks is known for being a coffee bar business. As far as expansion is concerned Peet's has been much slower.
In 2001 they went public issuing a very successful stock offering. In the first year of being public the stock price was sluggish but since then has been getting decent gains. In 2006 Peet's Coffee was doing $393 million in business a year. Currently they have 200 retail outlets along with sales thru grocery stores. The vast majority of Peet's outlets are located in California which is also where the headquarters is located.
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