Peet's Being Bought By Starbucks??!!??

[oakjoan]

I was up in the far northwest of the state last weekend (Ferndale) and caught a snippet of the morning news saying something about Peet's being bought by Starbucks.

It ruined my day and I don't even know if I heard it correctly.

Any info on this terrible possibility?

[crewsweeper]

it does appear that *$ and Green Mountain have a marketing agreement with the new one cup Kreig type coffees. That could mean only a matter of time for GMC before becoming a sub of *$ like Seattle's Best.

[ediblover]

Competition and all that aside, how will this matter? I mean, to me it's like McDonald's buying out Burger King. They're different, but ultimately the same.

So, can anyone that frequents Starbucks and Peet's point out the big differences between the two, if any, and what your hopes are?

[bulavinaka]

IMHO, focus and quality. The beans aren't burnt at Pete's, and the folks working there seem to really care about making a coffee/espresso/tea that works for you.

[Pius Avocado III]

That rumor's been going around since last year (and sporadically for longer than that); then, as now, it was mentioned as a potential deal in some Wall Street research.

It's a good rumor to spread for someone who's short Starbucks stock and long Peet's.

[klyeoh]

A matter of time? Starbucks did "come" from Peet's:
http://en.wikipedia.org/wiki/Alfred_Peet

[buttertart]

Yep, and the better man lost out. Peet's everywhere, that would be a treat.

[pikawicca]

Totally agree: I won't darken the door of a Starbucks, but I love Peet's.

[buttertart]

I had one of the best cups of coffee in my life there the last time we were in Berkeley.

[klyeoh]

Exactly my sentiment.

[mhuang]

http://seattletimes.nwsource.com/html...

According to Seattle Times, it was just a rumor; no announcement of a buyout was made at their shareholder meeting today.