EMERYVILLE, Calif. & SAN RAFAEL, Calif. – Peet’s Coffee & Tea Inc. announced that it has acquired Mighty Leaf Tea in partnership with Next World Group, a private investment firm, giving Peet’s an even greater presence in the high-growth premium tea industry.

Mighty Leaf Tea will continue to operate independently and have full access to Peet’s resources, capabilities and scale. In addition, Peet’s will continue to produce and market its own signature tea brand across its foodservice and retail channels. Next World Group, which will hold a minority stake in the partnership, has a proven track record in growing mid-size consumer specialty food and beverage companies, and will be a great partner in helping Peet’s accelerate its tea business.

The addition of Mighty Leaf Tea marks another important step in Peet’s growth.

Peet’s began its biggest U.S. retail coffee shop expansion ever last year, adding nearly 60 stores by the end of this year. Peet’s has already seen record-breaking sales with the recent launch of its 20 stores in the greater Washington, D.C. area and will add 20 additional stores across Chicago and southeast Wisconsin later this summer. Also, Peet’s recently launched a new, contemporary store design in many of its new and existing U.S. stores, and has dramatically expanded its presence in the popular single-serve category with Peet’s K-Cup packs.

Be on the lookout for more about hot tea and iced tea in convenience stores in the upcoming pre-NACS Show issue of NACS Magazine next month.