JAB to boost stake in JDE Peet’s with $2.4 billion Mondelez share buyout

(Reuters) – German conglomerate JAB has agreed to acquire Mondelez (NASDAQ:)’s 86 million shares in Dutch coffee maker JDE Peet’s for 25.10 euros per share, amounting to a total of 2.2 billion euros ($2.4 billion).

Following the transaction, JAB’s stake in JDE Peet’s will increase to 68%, JAB said in a statement.

Additionally, JDE Peet said it had appointed Rafael Oliveira as its chief executive officer, effective Nov. 1.

($1 = 0.9213 euros)