A drawdown in Bay Area coffee locations appears to be continuing as Peet’s Coffee announced plans to close more than two dozen locations by the end of January.
Although two San Francisco locations were able to confirm they were slated for closure others may not yet know – waiting for word from their corporate offices.
The development marks another major downsizing for Peet’s, which ended 2024 with 255 locations nationwide, down from nearly 400 stores at the end of 2019.
A Peet’s spokesperson said: “… These closures reflect a broader effort to align our business with long-term growth priorities and current market conditions,” while thanking employees and customers for past support.
Announcement of the closures comes on the heels of Keurig Dr Pepper’s $18 billion plan to acquire JDE Peets in an all-cash transaction first announced in August. The deal, expected to close in the second quarter, includes plans to split the coffee and other beverage businesses into two publicly traded companies.
Peet’s was founded in Berkeley, Calif., in 1966 by Alfred Peet.
