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Mondelez International & D.E Master Blenders 1753 to Form World's Leading Pure-Play Coffee Company
- Partnership Will Combine Jacobs and Tassimo with Douwe Egberts and Senseo in Portfolio of Iconic Coffee Brands
- Compelling Strategic Fit Due to Highly Complementary Brands, Geographic Profile and Technology Platforms
- Combined Company to Capitalize on Significant Global Growth Opportunities through Increased Scale, Greater Focus and Targeted Investment
DEERFIELD, Ill. and AMSTERDAM , May 7, 2014 /PRNewswire/ -- Mondelez International, Inc. (NASDAQ: MDLZ) and D.E Master Blenders 1753 B.V. today announced their intention to combine their respective coffee businesses to create the world's leading pure-play coffee company, with annual revenues of more than $7 billion (€5 billion) and an EBITDA[1] margin in the high teens.
The new company, to be called Jacobs Douwe Egberts (JDE), will be based in the Netherlands. It will hold leading market positions in more than two dozen countries and have a strong emerging market presence, giving it significant revenue synergy opportunities in the $81 billion global coffee category [2]. The two companies own some of the world's leading coffee brands, such as Jacobs,
, Gevalia, Kenco , Tassimo and Millicano from Mondelez International and Douwe Egberts, L'OR, Pilao and Senseo from D.E Master Blenders 1753.
"Jacobs Douwe Egberts will leverage the rich histories of both companies, combining our complementary geographic footprints, portfolios of iconic brands and innovative technologies to offer more people around the world more access to high-quality coffee and allowing the company to capitalize on the significant growth opportunities in a highly attractive market," said
, CEO of D.E Master Blenders 1753 and prospective CEO of the combined company.
"We're delighted with this transaction and the substantial value we expect to create for our shareholders," said
, Chairman and CEO of Mondelez International , whose coffee portfolio has outpaced market growth since 2010, thanks to innovations such as the Tassimo multibeverage on-demand brewing system and Millicano wholebean instant coffee. "By retaining a significant stake in the combined company, we'll continue to benefit from the future growth of the coffee category and share in the synergies and tremendous upside of this leading, one-of-a-kind coffee company."
The parties have entered into an agreement to combine Mondelez International's wholly owned coffee portfolio (outside of France ) with D.E Master Blenders 1753. In conjunction with this transaction, Acorn Holdings B.V. ("AHBV"), owner of D.E Master Blenders 1753, has made a binding offer to receive Mondelez International's coffee business in France . The parties have also invited Mondelez International's partners in certain joint ventures to join the new company. The transactions remain subject to regulatory approvals and the completion of employee information and consultation requirements.
In 2013, Mondelez International's wholly owned coffee business generated approximately $3.9 billion (€2.9 billion) in revenue, and D.E Master Blenders 1753 generated approximately $3.4 billion (€2.5 billion) in revenue.
Upon completion of all proposed transactions, Mondelez International will receive cash of approximately $5 billion and a 49 percent equity interest in Jacobs Douwe Egberts. AHBV will hold a majority share in the proposed combined company and will have a majority of the seats on the Board, which will be chaired by current D.E Master Blenders 1753 Chairman
. AHBV is owned by an investor group led by JAB Holding Company s.a r.l. Mondelez International will have certain minority rights.
The transactions are expected to be completed in the course of 2015, subject to limited closing conditions, including regulatory approvals. During this time, Mondelez International and D.E Master Blenders 1753 will undertake consultations with all Works Councils and employee representatives as required in connection with the transactions.
The new company's executive leadership team will be named at a later date and will consist of executives from both D.E Master Blenders 1753 and Mondelez International . Fact sheets with key data about the coffee businesses of both companies are available for download at http://bit.ly/1iiBeFe.
About D.E Master Blenders 1753
D.E Master Blenders 1753 is a leading pure-play coffee and tea company that offers an extensive range of high-quality, innovative products through well-known brands such as Douwe Egberts, Senseo, L'OR, Pilao, Merrild, Moccona, Pickwick and
About Mondelez International
Mondelez International, Inc. (NASDAQ: MDLZ) is a global snacking powerhouse, with 2013 revenue of $35 billion . Creating delicious moments of joy in 165 countries, Mondelez International is a world leader in chocolate, biscuits, gum, candy, coffee and powdered beverages, with billion-dollar brands such as Cadbury , Cadbury Dairy Milk and Milka chocolate, Jacobs coffee, Oreo, LU and Nabisco biscuits, Tang powdered beverages and Trident gum. Mondelez International is a proud member of the Standard and Poor's 500, NASDAQ 100 and Dow Jones Sustainability Index. Visit www.mondelezinternational.com and www.facebook.com/mondelezinternational.
This press release contains a number of forward-looking statements. Words, and variations of words, such as "will," "expect," "intend" and similar expressions are intended to identify these forward-looking statements, including, but not limited to, statements about: the parties' entry into the transactions, the timeframe for completing the transactions and the financial and growth prospects for the new company; the cash proceeds and ownership interests to be received in the transactions; creation of value for shareholders; coffee category growth; and the benefits of the transactions to Mondelez International . These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Mondelez International's control, which could cause Mondelez International's actual results to differ materially from those indicated in these forward-looking statements. Such factors include, but are not limited to, risks that the parties will fail to successfully complete the transactions on the anticipated timeframe and that the transactions will not yield the anticipated benefits. Please also see Mondelez International's risk factors, as they may be amended from time to time, set forth in Mondelez International's filings with the SEC , including its most recently filed Annual Report on Form 10-K. Mondelez International disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.
[1] Earnings Before Interest, Taxes, Depreciation and Amortization
[2] Euromonitor , 2013
SOURCE Mondelez International, Inc.
News Provided by Acquire Media
Copyright 2017 Mondelez International, Inc.
Mondelez and Douwe Egberts maker in coffee mega-merger
Mondelez will receive $5bn in cash and a 49pc stake in the combined business which will have $7bn of sales
3:57PM BST 07 May 2014
A new giant in the coffee industry will be created after Douwe Egberts maker DE Master Blenders has merged with Mondelez’s coffee business.
The deal agreed yesterday will see the formation of the world’s second-largest coffee company after DE Master Blenders agreed to hand US-based Mondelez $5bn (£2.9bn) in cash and a 49pc stake in the combined company.
The tie-up will mean the US group’s Carte Noire, Kenco, Millicano and Tassimo brands under the same roof as the Dutch company’s Douwe Egberts coffee and Senseo coffee capsules.
The combined business, which will be called Jacobs Douwe Egberts, will have $7bn of revenues, making it a strong challenger to industry leader Nestle.
The deal is the latest step in coffee consolidation by former Reckitt Benckiser boss, Bart Becht, who last year led German investment firm Joh A Benckiser’s (JAB) £6.4bn acquisition of DE Master Blenders.
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Mondelez said the deal will allow it to focus on its snacks business which includes Cadbury’s chocolate and Oreo cookies.
The coffee merger is the by-product of a series of carve outs from previous mergers and acquisitions. Mondelez was spun out of Kraft Foods in 2012 after the hostile takeover of Dairy Milk maker Cadbury, while DE Master Blenders was carved out of US frozen foods group Sara Lee.
Mondelez boss Irene Rosenfeld yesterday unveiled a $3.5bn restructuring programme which will include a reduction in the company’s workforce.
British union Unite yesterday said it was seeking urgent assurances for the 1,000 workers at the Mondelez Kenco coffee factory in Banbury, Oxfordshire, which is one of the town’s main employers.
“This move has the potential to be highly unsettling for a skilled and dedicated workforce. The Kenco coffee factory in Banbury is a vital source of jobs for the local community and economy,” said Rhys McCarthy, Unite national officer.
Mr Becht, chairman of JAB Holding Company, said yesterday that it was “too early” to discuss potential job cuts as the process had just begun.
Bart Becht, former boss of Reckitt Benckiser, is chairman of JAB Holding Company
“There will be cost synergies on the procurement side… but this is a deal for growth not cost reductions as we are complementary businesses,” Mr Becht said.
The transaction to combine the world’s number two and number three players in the $81bn global coffee market will be heavily scrutinised by competition authorities. Mondelez has a 12.9pc share of the global market, DE Master Blenders has a 5.9pc, while Nestle remains world leader with 22pc, according to analysts. Mr Becht confirmed that the deal would need approval from the European Commission.
Despite the multi-billion size of the deal Mr Becht said that JAB would continue to look at acquisition opportunities in the coffee space. Mr Becht admitted he hasn’t had a quiet retirement since stepping down from the helm of Reckitt Benckiser in 2011.
JAB is the investment vehicle of the wealthy and very private Reimann family. Their fortune comes from the Benckiser chemicals company, founded in 1823 which through a series of deals became Reckitt Benckiser, the FTSE 100 listed maker of Cillit Bang and Durex condoms.
Mr Becht confirmed that JAB had “no intention to sell” its remaining 10.5pc stake in Reckitt Benckiser to fund further acquisitions and said that he believed the London-listed group was “fantastic” and trading well. JAB also controls beauty group Coty and owns Labelux, manager of luxury brands Bally, Belstaff and Jimmy Choo.
DE Master Blenders was advised by Lazard, JP Morgan, BDT and Goldman Sachs while JAB was advised by Bank of America and Morgan Stanley. Mondelez was advised by Centerview Partners and Perella Weinberg Partners.
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How to Cook Using Only a Coffee Maker
No oven, no grill, no problem. Culinary enthusiasts have come up with a way to cook up hot meals using an appliance in almost every home and hotel room: a coffee maker.
Who knew that you could steam, poach, and grill tasty meals in the humble coffee pot? Well, the internet knew, with a slew of recipes perfect for college kids, frequent travelers, and, as NPR discovered, deployed soldiers. They spoke to Jody Anderson, who started creating recipes for her nephew stationed in Afghanistan. He complained about the food in the mess hall, she said, “but the soldiers were allowed only to have coffee makers in their rooms.”
Ready to start brewing up your own home-cooked meals? Here are some recipes to get you started:
Add cream to your coffee pot and turn it on to let the burner warm it up. After 15 minutes, break up pieces of a chocolate bar into the pot, letting it melt for another 10 minutes before stirring to combine. At a hotel? Now would be a good time to call down to the front desk and ask for a bowl of fruit.
Lemon Pepper Chicken & Mashed Potatoes
Place chicken in the coffee pot, adding enough water to cover a quarter of it. Add lemon pepper seasoning, turn on the coffee maker, and cook for about 15 minutes on each side. Finally, add milk and butter to the remaining liquid, as well as instant potato flakes for your side.
It’s not exactly chestnuts roasting on an open fire, but it’s pretty fancy for a coffee maker nonetheless. First, put a couple of tablespoons of sugar and a few pinches of salt into the pot (for a kick, add chili flakes too). Run a cup of water through the brewer, mix, and add your nuts. Let stand before drying the nuts�this recipe even suggests using a blowdryer to speed up the process. Finally, use the coffee maker’s burner to toast the pecans, turning occasionally.
Throw veggies like carrots, broccoli, and cauliflower into the filter basket of the coffee maker. Run water through the coffee maker several times until the vegetables are tender.
Would you try cooking in a coffee maker? If you plan to, please report back on how many times you had to wash the coffee maker to get the coffee smell out of your broccoli and the lemon pepper chicken smell out of your coffee.
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469 comments
This article caught my eye, especially after I had seen another reference about cooking hot dogs in a coffee pot.
WOW! Who woulda thunk? I sure haven't but I know there are some fairly smart people out in the world. I'm guessing these people were thinking outside of the coffee pot. Good job!
I just dug this out again for a friend who is moving&will be motel-ing it till a good apt comes open. she will be using HER OWN coffee maker fyi not the provided one. I was adamant cooking fish in the provided one was bad manners! (&who knows who has a fish allergy?)
Not sure I would actually do them, but it was almost fascinating reading these recipes.
I wouldn't try any of these recipes unless I had two coffee makers, one for coffee and another for cooking food. I don't think the flavors would blend very well together.
If you know a deployed soldier please pass these tips on. In some areas the only appliance they are allowed in their rooms is a coffee maker. With a coffee maker they can cook anything from a meal to a midnight snack. Something as simple as mac and cheese in the blue box can be a real comfort food.
Oops I just posted this under my cousins account, that's what happens when you have two people using the same computer.
In Swedish https://www.facebook.com/Kaffekokarkokboken
The Lemon Pepper Chicken picture you posted was never cooked in a coffee pot, although you can cook really delicious chicken in a coffee pot, it will never look like that, it won't have grill marks and it won't be brown, although I use a mini skillet and Katja cooks directly on the burner to get things to brown. You should at least try cooking with a coffee maker or at the very least post pictures of things that were actually cooked in one. I'm sure that some of the sources that you got your information and ideas from would have been glad to allow you to use their pictures.
In Swedish https://www.facebook.com/Kaffekokarkokboken
That's pretty amazing display of ingenuity. I would never have looked at my coffee pot as a meal maker.
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We offer over 30 premium coffees, from intense dark roasts to exotic varietals, all selected by expert coffee buyers, then slow roasted to full-bodied perfection.
From the slopes of Mount Hualalai, Hawaii, searching for the perfect velvety-smooth Kona, all the way to the Malabar coast of India to find a crop of full-bodied Indian Malabar with accents of honey and clove, we travel the globe in search of all the best beans to call our own.
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Costa Rica
Rich and medium-bodied. This shade grown coffee has a lighter roast which captures its delicate fruit and citrus undertones.
Earthy and full-bodied. This single origin coffee has smoky notes with hints of cocoa, grown to perfection in the shade.
Traditional Roast
Smooth and perfectly balanced. This is our most beloved blend. There's a reason this Swedish-inspired roast takes the crown. Available in Ground or Whole Bean.
House Blend
Robust yet incredibly smooth. This Swedish inspired roast has a captivating aroma. Available in Ground or Whole Bean, Regular and Decaf.
Rich, bright and well-bodied. This single origin classic is renowned around the world. That's why we've sourced these beans for decades.
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Rich, velvety dark chocolate flavor. This blend is pure indulgence. You'll love every sip.
Flavored and balanced with a heavenly aroma. Just sit back, relax and enjoy this everyday treat.
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Signature Blend
A smooth, medium-bodied blend. Made with 100% prized Arabica Beans. Available in Regular or Decaf. 12ct & 18ct
Cappuccino
Smooth, mildly sweet, with subtle roasted notes, made from real milk. 6ct & 9ct
Caramel Macchiato
Creamy and smooth with the indulgent flavor of caramel, made from real milk. 6ct & 9ct
Mocha Latte
A creamy blend of cocoa and coffee topped with a velvety layer of froth. 6ct & 9ct
A rich, bright and well-bodied coffee. This single origin classic is renowned around the world. We have sourced these 100% Colombian beans for decades. 12ct & 18ct
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An intense, complex blend. A dark-roasted, full-bodied selection made with premium 100% Arabica Beans. 12ct & 18ct
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KRAFT KAFFEE | Oldcastle
Kraft Kaffee - Oldcastle - Meath
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Kraft Kaffee and Visitor Information Point stocks and sells local tourist information, local Ordnance Survey maps and a selection of books of local interest, Lough .
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Details about Kraftmaid Kitchen Kaffee Cherry Glass Door 4 Corner OR 15"x342" Wall Cabinet
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kraftmaid cabinet finishes
I would like to hear from anyone who has recently purchased Kraftmaid cabinets. The store displays at my local Home Depot and Lowe's have a lot of inconsistency in the finished stains. The cabinets don't seem to match. I am very worried about purchasing this line because of this reason. I was planning to purchase from an independent dealer. If you have recently purchased Kraftmaid cabinets, was the staining even all over or was it an array of different shades that did not seem to go together? Are there some colors that stained better than others? I was leaning toward a darker shade- chocolate, cognac etc. Thanks for any advice on the Kraftmaid line.
I have used Kraftmaid twice already and both times all of the cabinets have been completely consistent between each other. I just received shipment of 18 cabinets and they all look fantastic - even all of my contractors complimented them.
Perhaps Home Depot is piece mealing their displays from various lots? That may account for variation in color. When one purchases from an independent dealer, I would think there is more control over what is happening than the "big box" stores.
Just a possibility - I have no idea if this is true or not.
Also, my understanding has always been that Home Depot (and other stores similar) have special deals with various manufacturers and "rebox" their items at times (plumbing supplies for instance). Maybe this is the same with cabinets too?
My Kraftmaid cabinets are gorgeous.
I ordered them through an independent dealer rather than Lowe's/Home Depot and they replaced a drawer for me immediately that wasn't sitting on the track perfectly. Also, they sent me a new door for one where I didn't love the way the natural wood knotting looked. The replacements were perfect and matched the color of everything else in the room. Kraftmaid has tremendous customer satisfaction policies.
My DD recently installed Kraftmaid Hanley style in chestnut. All of the cabinets appear consistent and look beautiful! Black hardware finished them off nicely.
No problem with consistency here. I've never noticed any inconsistency in the big box stores either.
Wood is a natural product and all wood cabinets are naturally varied as a result. That's normal. If you want something else, well, there are are ways to get cabinets with zero variation in finish.
#1. Pay a big premium for premium matched woods (like 100% cherry heartwood) and the time of a custom cabinet maker to carefully match and finish each piece like fine furniture. This is the most expensive approach.
2. Do a painted finish. Paint will uniformly cover the variations in the wood. This isn't ideal if you want "wood" cabinets, but it will give you uniformity.
3. Do a tinted varnish as a topcoat. This has a lot in common with a painted finish as it obscures the natural wood grain. But it does leave the wood looking more uniform. This is an approach that many very low cost lines use to create dark finishes on difficult to finish woods like maple. Any chips in the finish will show the light wood underneath.
My suggestion is to take a closer look at many different cabinet lines. What you will see is that the natural variations that will blend together as a whole in your kitchen. It all looks "the same", but NOT "uniform". If any single door or drawer is very very different, then Kraftmaid (or any other brand) will be glad to exchange it out for a new one. But, expecting wood to be perfectly uniform and even in color is only setting yourself up for massive disppointment. It is an unrealistic expectation.
I just had Kraftmaid cabs installed 4 months ago. cherry with a dark Peppercorn stain. They look great and the stain is even throughout. Love the richness of the stain. It looks like dark chocolate..
Here is a link that might be useful:
Not to hijack the thread, but Kitchenaddict, what did you use for your backsplash? I remember you and I "speaking" a few months back when I was considering the Peppercorn finish. I went with Kaffe instead, on Quarter Sawn Oak, which looks very similar to yours. Your backsplash looks really lovely and I'm still struggling with what to do about mine.
I went with Kraftmaid Maple Cognac and love them. Are kitchen isn't finished yet but here's a pic. To get an idea of the color, I have brazilian walnut floors that are more on the reddish side. The cognac is more on the yellow side.
My backsplash is Crema Marfil Tumbled Marble. I got it from Arizona Tile, in Southern California. Good Luck!!
I ordered my KM cabinets through Lowes, - Cherry stained with Sunset which is a deep color, but not dark. They all look consistent, and I love them. Kraftmaid and Lowes were great to work with. Perhaps you saw samples that hadn't been on the showroom floor for the same period of time.
I ordered my Kraftmaid cherry chocolate cabinets from Lowes. Lowes was great to work with, but the cabinets came in with lots of quality issues. They were bowed and had uneven fronts and sides. Several of the cabinets did not have the correct bottoms--missing the base molding.
They offered to replace the cabinets, but my kitchen was already torn apart.
Look at the bottom of the thread for link to my pictures.
Here is a link that might be useful: my kraftmaid thread
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