The European company that owns Panera and Krispy Kreme has quietly acquired a new bottled-water company in its quest to create a beverage empire

Beverage company Core is being acquired by Keurig Dr Pepper.

Beverage company Core is being acquired by Keurig Dr Pepper.

  • Keurig Dr Pepper is acquiring bottled-water company Core.
  • Keurig was acquired by JAB Holding in 2016 and merged with Dr Pepper earlier this year.
  • JAB already owns Krispy Kreme, Au Bon Pain, Caribou Coffee, and Keurig.

The company that owns Krispy Kreme, Caribou Coffee, and Panera Bread just took control of a new beverage company.

On Thursday, Keurig Dr Pepper announced it had agreed to acquire Core Nutrition LLC in a deal that values the beverage company at $525 million.

The addition means yet another beverage brand is joining JAB Holding’s already extensive portfolio.

JAB, the investment arm of the secretive Reimann family, acquired Krispy Kreme for roughly $1.35 billion in 2016. Since then, JAB has acquired brands including Panera, Au Bon Pain, and Pret A Manger.

Here’s the story of the firm.

JAB acquired Peet’s Coffee and Tea in 2012.

REUTERS/Kimberly White

JAB Holding acquired Peet’s back in 2012 for about $1 billion.

It then did a deal for Caribou Coffee.

By mastermaq on Flickr

JAB also runs Caribou Coffee Co., which it acquired in 2013 for $340 million. Caribou Coffee is based in Minnesota.

Next up was D.E Master Blenders 1753.

D.E Master Blenders

JAB struck a deal in 2013 to buy D.E. Master Blenders 1753, which had been spun out of Sara Lee Corp. a year earlier, for $9.8 billion.

Then it struck a big deal in 2014 to create Jacobs Douwe Egberts, which owns brands including Kenco, Tassimo, Senseo, and Moccona.

Jacobs Douwe Egberts

The biggest brand under JAB’s umbrella is Jacobs Douwe Egberts, the world’s biggest coffee company, which has revenues totaling more than 5 billion euros. That entity was formed as a result of a merger between another JAB brand and Mondelez International coffee products, which closed earlier this year. Mondelez maintains a 44% stake in the combined company.

JAB Holding bought Einstein Bros.’ parent company in 2014.

Yelp/Steve F.

JAB also bought Einstein Noah, a Colorado-based bagel company, in a $370 million deal. Einstein Noah was founded in 1995 and was operating more than 850 US stores at the time of the sale.

It also acquired the leading Nordic coffee retailer.

Espresso House

JAB reached a deal worth more than $300 million to buy Espresso House, the leading coffee chain in Sweden and Norway, in 2015.

JAB-owned Peet’s Coffee and Tea has gone on a buying spree.

Wikimedia Commons

Peet’s has since gone on a buying spree, picking up two US brands – Intelligentsia and Stumptown – in 2016. They are based in Chicago and Portland, Oregon.

JAB’s holdings don’t stop there, either.


JAB also has investments in top European brands, including Marcilla Professional, Pickwick, and Friele, to name a few. The company also owns the leading makers of high-end brewing products.

In 2015, news broke that JAB was planning to acquire Keurig.

Hollis Johnson

That December, JAB announced plans to buy Keurig for about $13.9 billion.

It added Krispy Kreme to the mix in 2016.

Krispy Kreme

JAB and its partners spent about $1.35 billion to buy Krispy Kreme Doughnuts.

Panera was a big-name purchase.

Facebook/Panera Bread

Panera’s then-CEO, Ron Shaich, said the acquisition – announced in 2017 – allowed Panera to focus more on long-term success as opposed to short-term sales.

Panera then acquired its sandwich rival Au Bon Pain.

Hollis Johnson

The two brands have strikingly similar menus, selling sandwiches, salads, soups, and coffee with an emphasis on nutrition that many fast-food competitors do not have.

Shaich told Business Insider it was “too early” to say how the acquisition would affect Au Bon Pain locations. It is unclear whether the brands will remain separate or whether Au Bon Pain locations will adopt aspects of Panera’s brand – or even be revamped as Panera locations.

In May, JAB agreed to a deal to buy Pret A Manger.

Pret A Manger on Facebook

Pret has been rapidly building out its international presence, opening locations in the US, Hong Kong and China, and France, adding to its already strong presence in the UK.

“Management’s proven track record and commitment to customer service, investment in innovation and approach to freshly prepared food position Pret well as it capitalizes on evolving customer taste and lifestyle preferences,” Olivier Goudet, JAB’s CEO, said in a statement.

Insomnia Cookies is joining the empire thanks to a deal with Krispy Kreme.

Insomnia Cookies

The terms of the deal were not announced, though a source told CNBC that the then-unannounced deal would value Insomnia Cookies at less than $500 million.

“At Krispy Kreme, we have an 81-year heritage of creating the most awesome doughnut experience imaginable, and today we are delighted to add Insomnia Cookies, a rapidly growing business with an innovative delivery experience and exceptional product that is beloved by consumers,” Mike Tattersfield, Krispy Kreme’s CEO, said in a statement.

Now, Core is the latest beverage brand to come under JAB’s control.

Beverage company Core is being acquired by Keurig Dr Pepper.


Core is best known for its bottled water brand, Core Hydration, and fruit hydration brand, Core Organic.

Frank Chaparro, Jonathan Marino, and Rachel Butt contributed to earlier versions of this post.