JAB Holding Company Sarl

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JAB (from "Joh A Benckiser") is a privately-held German conglomerate that owns companies operating in the consumer goods, forestry, coffee, luxury fashion and fast food arenas, amongst others. It is 90% owned by Germany's Reimann family,ref and headquartered in Luxembourg.ref, ref, ref.

JAB is not a typical investment vehicle. Rather than just taking large stakes in big companies, or flipping businesses for a profit, the firm tends to buy companies or brands in their entirety and run them. Instead of investment managers, it is led by 3 CEOs.ref

Company

Ownership

The Reimann Family: Wolfgang, Stefan, Renate and Matthias (4 of Albert Reimann Jr's 9 adopted children).ref, ref,ref

  • Maj.%: Agnaten SE, was Parentes Holding SE, Bb, reg. Austria
  • Lucresca SE, controlled by family members of the shareholders of Agnaten SE, Bb, reg. Austria
    • Min.%: Donata Holdings BV, OC, reg. Netherlands

Structure

JAB Group has 2 investment vehicles, which co-invest with each other:ref, ref
1. JAB Holding Company Sarl
2. JAB Consumer Fund SCA SICAR, an Alternative Investment Fund, OC. The AIF Manager is JAB Consumer Fund Management Sarl.OC



† Shareholders: Delta Charger HoldCo BV (56.16%) + Mondelez Coffee Holdco BV (26.35%) + JDE Holding Minority BV (16.91%) + JDE Management (0.58%).
‡ Parent company Pam Group Ltd was acquired from Bridgepoint Advisers Ltd, who owned 69%; the founders had 16%; and management 15%, CH.


Sources: JAB Holdings BV Interim Condensed Financial Statements for the six months period ended Jun.30.2018. JAB Holding Company. Jun.30.2018 ♦ JAB Holding Company Sarl Interim Condensed Consolidated Financial Statements for the six months period ended Jun.30.2018. JAB Holding Company. Jun.30.2018

Holdings

Reckitt Benckiser

See main article: Reckitt Benckiser Group plc

Bally

See main article: Bally International AG

Coty Inc

Website, Brands

‡ Licensed brands.
Coty, Inc: Rumored Divestiture Could Be A Game Changer. Likely divested fragrance brands include David Beckham, Beyoncé, Enrique Iglesias, Katy Perry, Playboy, Guess, Nautica, Vera Wang, Stetson and Jovan. Seeking Alpha. Sept.28.2017

Keurig Dr Pepper Inc

The Keurig system centres around "K-pods", a 4-layer sandwich of specialised plastic #5 topped with 100% non-recyclable plastic foil. Inventor John Sylvan has divested his shares in Keurig Green Mountain, expressing regret for his idea. Despite Keurig's "recycling initiative", Sylvan says "no matter what they say, those things will never be recyclable".ref

Social-Media-Twitter.svg Social-Media-Website.svg Social-Media-YouTube.svg Social-Media-Facebook.svg Social-Media-Instagram.svg

Fast Facts

  • The profit margin on K-Cups is extraordinary: the 11 grams of coffee in K-Cups costs ~$40 per lb -vs- $4 per lb for (eg.) Folger's, or even $11 per lb for the really fancy stuff.
  • The cups are technically recyclable if you separate all the layers (with difficulty), rinse everything; then recycle the parts separately.ref Seriously? So not going to happen; just because something is recyclable, doesn't mean it will be. Hamburg banned pods from state-run buildings;ref many others have since followed suit.
  • Newer Keurig machines will not accept reusable Ekobrew pods; that's not an accident, it's digital rights management for coffee machines.
  • Keurig Green Mountain is very secretive about how many K-Cups it sells each year; best estimates say the 13 billion buried in landfill in 2014 would circle the Earth ~12 times.ref
  • K-Cups have far higher energy costs and greenhouse gas emissions than brewing coffee the old-fashioned way.
  • Taxpayers (you and I) pay for refuse disposal, street cleanups, landfill costs, and environmental damage, not tax-haven company Keurig. Add those costs onto the price of an oh-so-convenient K-Cup.

Coffees and Teas

† Licensed brands.

Soft Drinks, Juices, Waters, etc.

‡ Licensed brands.

Jacobs Douwe Egberts

https://www.jabholco.com/en/acorn-holdings.html > https://www.jacobsdouweegberts.com/

Pret Panera Holding Company

https://www.jabholco.com/en/jab-beech.html

Krispy Kreme Doughnuts

https://www.jabholco.com/en/jab-coffee.html

Timeline

  • Sept.2018:
    Pret-A-Manger.svg
    Pret a Manger, the coffee and sandwich chain, was acquired by JAB Holding Company (JAB Group + JAB Consumer Fund + "other equity partners") from Bridgepoint Capital.[1]
  • Aug.2018: JAB Group acquired further Coty Inc. shares.
  • Jun.2018: JAB Group reduced its shareholdings in Reckitt Benckiser to below 3%.
  • Feb.2018: Bally International AG: JAB sold a majority controlling stake to Chinese materials conglomerate Jining Ruyi Investment Company Ltd § Shandong Ruyi.ref JAB retained a minority stake, as did Bally's management team.ref
  • Jan.2018: Keurig Dr Pepper Inc: Keurig Green Mountain Inc announced it was acquiring Dr Pepper Snapple Group Inc, with JAB owning 87% of the merged companies.ref,ref Keurig Green Mountain and Dr Pepper Snapple Group Inc have entered into a definitive agreement to create Keurig Dr Pepper, a new beverage company with a portfolio of iconic consumer brands and unrivalled distribution capability to reach virtually every point-of-sale in North America. The transaction was completed in Jul.2018.ref, p.8
  • Nov.2017: Au Bon Pain Company, a Boston-based bakery-cafe chain, was re-acquired by Panera Bread. Panera founded the chain in 1981, but sold it in 1999.ref
  • Aug.2017: Bruegger's Bagels was acquired by Caribou Coffee.ref,ref
  • Jul.2017: Jimmy Choo: JAB announced the sale of their 67.6% stake in Jimmy Choo to Michael Kors Holdings Ltd.ref,ref The transaction was completed in Nov.2017.ref
  • Apr.2017: Panera Bread Company, a fast casual bakery-café chain, acquired by Beech I GP.ref, ref
  • Feb.2017: Younique: Coty Inc acquired a 60% majority shareholding in the online peer-to-peer social selling platform.ref
  • Jan.2017: Jacob Douwe Egberts BV announced ts intention to acquire in Brazil a portfolio of local brands from Cacique Company, including Pelé, Graníssimo and Tropical.ref
  • May.2016: Krispy Kreme: JAB Beech agreed to acquire the US doughnut shop operator.ref
  • Mar.2016: Keurig Green Mountain Inc, maker of home and office coffee brewing systems, was acquired by JAB and other investors.ref, refref
  • Jul.2015: Proctor & Gamble's Beauty business: acquired 43 brands from P&G's global fine fragrances, salon professional, cosmetics and retail hair color businesses, along with select hair styling brands. Completed in Oct.2015.ref,ref Also acquired the personal care and beauty business of Hypermarcas S.A., known as Brazil Acquisition has strengthened its position in the Brazil.
  • Oct.2015: Intelligentsia Coffee & Tea: a majority stake was acquired by Peet's Coffee and Tea in the Chicago-based chain of coffee shops.ref
  • Oct.2015: Stumptown Coffee Roasters, based in Portland, Oregon, was acquired.
  • Oct.2014: Jimmy Choo was taken public by JAB.ref
  • Sept.2014: Einstein Noah Restaurant Group, whose bagel shops include Einstein Brothers Bagels, Noah’s New York Bagels and Manhattan Bagel, said it would sell itself to JAB Holding Company.ref
  • Aug.2014: Mighty Leaf Tea, a specialty tea retailer based in the San Francisco Bay area, was acquired under the Peet's Coffee and Tea brand.ref
  • May.2014: Jacobs Douwe Egberts was formed by the merger of D.E Master Blenders 1753 NV with Douwe Egberts, the coffee division of US food conglomerate Mondelez International.
  • Late.2013: Coffee giant Douwe Egberts, majority stake in a company combining Douwe Egberts and Mondelez’s coffee brands into Jacobs Douwe Egberts.
  • Apr.2013: D E Master Blenders 1753 NV: JAB Holding Company made an offer to purchase the coffee and tea company spun off by Sara Lee Corp.ref DE Master Blenders later bought Norway's Kaffehuset Friele coffee manufacturer.ref
  • Early 2013: Caribou Coffee
  • Jul.2012: Peet’s Coffee and Tea was acquired by JAB.
  • Nov.2012: Derek Lam: Labelux Group sold luxury fashion brand Derek Lam to the label's founders.ref
  • May.2012: JAB announced its intention to sell 4.9% of shares in Reckitt Benckiser, to raise funds for Coty's acquisition of Avon.ref
  • May.2011: Jimmy Choo plc acquired by JAB Luxury (then Labelux Group GmbH), from Towerbrook Capital Partners.ref,ref,ref, Jimmy Choo LtdWikipedia's W.svg
  • Dec.2010: TJoy Holdings Ltd: City Inc acquired a majority stake in China's skin-care company. TJoy's management will hold the remaining shares.ref
  • Nov.2010: Dr. Scheller Cosmetics AG was acquired by Coty Inc from Russia's Kalina Group.ref
  • Nov.2010: Philosophy, a beauty brand focused on skin care, was acquired by Coty Inc from the Carlyle Group.ref
  • 2010: OPI Products, a nail polish brand popular in salons, acquired from the Carlyle Group.ref,ref
  • 2009: Deutsche Kontor Privatbank: The family founded DKP, a private bank based in Munich, to offer wealth management services to other non-family members.ref, WP.de, Deutsche Kontor
  • Jul.2008: Derek Lam: JAB Luxury acquired a majority stake.ref
  • Apr.2008: Bally International AG: Labelux acquired Bally Shoes from private equity firm TPG Capital.ref
  • 2007: DLI Holding, the company that owns Sally Hansen (a nail polish brand), and N.Y.C. New York Color (a low-priced cosmetics line).
  • Dec.1999: Reckitt Benckiser plc was formed by the family-engineered merger of consumer goods group Reckitt & Colman plc and Benckiser NV.ref,ref
  • 1997: The family took Benckiser public.
  • 1996: Coty acquired Unilever's European cosmetic brands, including Rimmel.ref
  • May.1992: Coty Inc: Joh A Benckiser GmbH purchased Coty from Pfizer Inc. Pfizer had acquired Coty about 30 years earlier from François Coty’s former wife and her husband.ref,ref,ref
  • May.1990: Margaret Astor and Lancaster cosmetics businesses acquired by Joh A Benckiser GmbH from SmithKline.ref
  • Dec.1989: SmithKline's Household Products business in NortLudwig Reimann h America acquired by Joh A Benckiser GmbH.ref
  • May.1987: Ecolab, a Minnesota-based provider of institutional cleaning services and products said the sale of its US and international consumer business to Joh A Benckiser GmbH will eliminate the majority of its consumer products and allow it to concentrate on its service businesses, where it sees better growth potential.ref,ref,ref
  • 1984: Albert junior died, leaving equal stakes to his 9 adopted children. Wolfgang, Renate, Matthias and Stefan gradually bought out the other 5 children.ref
  • 1954: Reckitt & Colman Holdings Ltd was incorporated.
  • 1952: Albert junior, Ludwig’s great-grandson, inherited the company and pushed it in the direction of consumer goods, introducing household cleaning agents like softeners and detergents.ref
  • ?date?: Ludwig Reimann joined the company and married Johann Adam Benckiser’s daughter.
  • 1823: Johann Adam BenckiserWikipedia's W.svg bought a chemicals business in Pforzheim.ref

Reckitt Benckiser
  • ?date?: Reckitt & Colman plc sold the Glamorene brand of carpet care products to Joh A Benckiser GmbH, pursuant to a Federal Trade Commission divestiture order.ref
  • Unilever history, AdAge (show pg src). Glamorene links: ref, ref, ref,ref
  • Reckitt Benckiser Group plc sold its food business to McCormick & Company Inc.ref,ref See also Encyclopedia.com

Dr Pepper Snapple Group Inc
  • Kul.2018: Keurig Green Mountain completed its merger with Dr Pepper Snapple Group to create Keurig Dr Pepper.ref
  • Feb.2010: Kraft Foods Inc acquired Cadbury plc and Cadbury Schweppes plc.
  • 2008: Cadbury Schweppes plc separated its beverage business in the USA, Canada, Mexico and the Caribbean from its global confectionery business; those subsidiaries were acquired. Involved two steps:
    • May.01.2008: Cadbury plc became the parent company of Cadbury Schweppes.
    • May.07.2008: Cadbury plc transferred the subsidiaries to us, and we became an independent publicly-traded company listed on the New York Stock Exchange under the symbol “DPS”. In return for the transfer, we distributed our common stock to Cadbury plc shareholders.
  • Jul.2007: Acquired Southeast-Atlantic Beverage Corporation.
  • May-Aug.2006: May: acquired the remaining 55% of Dr Pepper/Seven Up Bottling Group Inc.
    Jun: acquired the assets of All American Bottling company.
    Aug: acquired Seven Up Bottling Company of San Francisco. The bottlers were integrated into the Packaged Beverages segment.
  • 2003: Cadbury Schweppes Americas Beverages was formed by integrating the 4 businesses: Mott’s LLP, Snapple Beverage Corporation, Dr Pepper/Seven Up Inc, and Bebidas Mexico).
  • 2000: Cadbury Schweppes acquired Snapple Beverage Corporation, and other brands.
  • 1999: Acquired a 40% interest in Dr Pepper/Seven Up Bottling Group Inc, then our largest independent bottler. Increased interest to 45% in 2005.
  • 1995: Cadbury Schweppes acquired Dr Pepper/Seven Up Companies Inc, having previously made minority investments in the company.
  • 1980s-1990: Built on the existing Schweppes business by adding brands such as Mott’s, Canada Dry and A&W and a license for Sunkist soda. Also acquired the Peñafiel business in Mexico.
  • 1980-1989: Cadbury Schweppes acquired Duffy-Mott Company, Canada Dry and the Sunkist soda license.
  • 1972: Snapple was invented in Brooklyn.
  • 1969: Cadbury and Schweppes merge, forming Cadbury Schweppes plc
ToDo †

Info to help generate a merger-infographic like the RBS one.

  • The Sites are offered by Dr Pepper, Mott’s LLP, Snapple Beverage Corp, Canada Dry Mott’s Inc. and Dr Pepper Snapple Group
  • Dr Pepper Snapple Group and Canada Dry Mott’s are a leading producer of flavoured beverages in North America and the Caribbean. Our success is fueled by more than 50 brands that are synonymous with refreshment, fun, and flavour. We have 7 of the Top 10 non-cola soft drinks, and 9 of our 10 leading brands are No.1 or No.2 in their flavour categories. In addition to our flagship Dr Pepper and Snapple brands, our portfolio includes 7UP, A&W, Bai, Canada Dry, Clamato, Crush, Hawaiian Punch, IBC, Mott’s, Mr & Mrs T mixers, Peñafiel, Rose’s, Schweppes, Squirt, and Sunkist soda.
  • 2017: DPS completed the acquisition of Bai Brands LLC, adding its complete lineup of better-for-you, antioxidant-infused enhanced waters, carbonated flavoured waters, coconut water, and premium teas to the portfolio.
  • 2008: Canada Dry Mott’s (the Canadian subsidiary of Dr Pepper Snapple Group) and Dr Pepper Snapple Group were established following the spinoff of Cadbury Schweppes Americas Beverages (CSAB) from Cadbury Schweppes plc.
  • 2008: Dr Pepper Snapple Group, Inc, the parent company of Dr Pepper and Dr Pepper/Seven Up, Inc, was established following the spinoff of Cadbury Schweppes Americas Beverages (CSAB) from Cadbury Schweppes plc.
  • 2006: CSAB reached another milestone with the acquisition of Dr Pepper/Seven-Up Bottling Group, the largest independent bottler in the United States.
  • 2006: The company established its own bottling and distribution network, when it acquired full ownership of Dr Pepper/Seven Up Bottling Group. Subsequently, it acquired several other major independent bottling and distributing businesses, including All-American Bottling Co., 7UP Bottling Co. of San Francisco, Southeast-Atlantic Beverage Corp., Dr Pepper/7-Up Bottling Co. of the West (Reno, NV), and Davis Bottling Co. (PA), among others. Adding to its finished goods manufacturing footprint for distribution of juices, teas, mixers, and applesauce, the bottler acquisitions have given DPS control of nearly half of its overall volume in the U.S. and direct access to a substantial majority of the U.S. population.
  • 2003: CSAB formed by bringing together Cadbury Schweppes’ 4 North American beverage businesses: Dr Pepper/Seven Up Inc, Snapple Beverage Group, Mott’s LLP, and Bebidas Mexico.
  • 2003: the 4 North American beverage companies under Cadbury Schweppes – Dr Pepper/Seven Up, Inc., Snapple Beverage Corp., Mott’s, and Bebidas Mexico – were unified under a common vision, business strategy, and management structure to become Cadbury Schweppes Americas Beverages.
  • 2000: Cadbury Schweppes acquired Snapple Beverage Group, which included the namesake brand as well as RC Cola, Diet Rite, and Stewart’s, among others.
  • 1995: Cadbury Schweppes purchased Dr Pepper/Seven Up, Inc. The acquisition brought Dr Pepper and 7UP, along with IBC Root Beer and the Welch’s soft drink line, into the Cadbury Schweppes family.
  • 1993: A&W Brands, which included the signature root beer and cream soda, as well as Squirt and Vernors, joined the portfolio.
  • 1982, Cadbury Schweppes acquired the Duffy-Mott Company (later known as Mott’s), one of the largest apple juice processors in the world. Through the rest of the 1980s, the company added Canada Dry, Sunkist Soda, Crush, and Sun Drop.
  • 1969: Cadbury Schweppes was formed with the merger of Cadbury and Schweppes.

  • ?date?: Citrus growers in California and Arizona instituted the Sunkist trademark as a mark of freshness and premium flavor.
  • 1978: General Cinema Corporation, a large theater operator and soft drink bottler, created the orange soda we enjoy today and licensed the use of the Sunkist trademark for their delicious orange soft drink.
  • 1979: Sunkist Soda was launched nationally and quickly became the #1 orange soda on the market.
  • 1986: Cadbury Schweppes acquired the Sunkist Orange Soda license and carried on the tradition of awesomeness into the new millennium.

  • Mar.2000: Diet Rite became the first diet cola to be sweetened with SPLENDA brand sweetener. Today, Diet Rite is available in cola, white grape, tangerine, black cherry, cherry cola, and red raspberry flavors.
  • 1963: Diet Rite was the 4th best-selling soft drink in the country. Competitors began to flood the market, and by 1964, two dozen diet products emerged. Still, Diet Rite remained the most popular diet cola while Tab and Diet Pepsi closed in on the 2nd spot.
  • 1958: Introduced by The Royal Crown Company, Diet Rite was the first diet beverage developed nationally by the soft drink industry. Marketed for diabetics and people who could not consume large amounts of sugar.

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References