— JAB

JAB Holding is a group majority owned by the Reimann family, the historical shareholder of the Reckitt Benckiser group. JAB Holding's strategy consists in selecting and investing for the long term in leaders in the consumer goods and branded products sector (consumer goods, beverages and food, cosmetics). Through a number of acquisitions since 2012, the group has become the world’s second-largest player in the coffee market (JDE) and its third-largest non-alcoholic beverage group (KDP) and has created a network of restaurants and cafés with more than 4,500 outlets under well-known brands in the United States and Europe (Panera, Pret à Manger...).

As at Dec 31, 2018
 

Commitment date

2016

FFP's investment.

FFP made a commitment to co-invest $50 million alongside JAB Holding in December 2016, then a further $150 million in December 2017, to support its growth strategy in the consumer goods sector. These co-investments give FFP exposure to a diverse portfolio of assets in the non-alcoholic beverage sector, particularly coffee (Jacobs Douwe Egberts, Keurig Dr Pepper), bakery and restaurant chains (Panera, Pret A Manger, Einstein Noah, Caribou, Espresso House, Baresso) and snacks and treats (Krispy Kreme and Insomnia Cookies).

In 2018, FFP invested an additional $130 million in Acorn Holdings to continue supporting the group’s expansion strategy in the beverages sector following its acquisition of Dr Pepper Snapple Group. That investment increased FFP’s exposure to Jacobs Douwe Egberts, Keurig Dr Pepper and Peet’s Coffee & Tea.

In 2018.

In 2018, JAB Holding and its subsidiaries carried out several acquisitions and saw a number of major developments, such as:

- the merger between Keurig Green Mountain and Dr Pepper Snapple Group in July, which made JAB Holding the world’s third-largest player in the non-
alcoholic beverages sector;

- the acquisition of Pret A Manger and its 450 restaurants, and the acquisition of Insomnia Cookies in the United States, bolstering its snacks and treats segment;

- in operational terms Jacobs Douwe Egberts continued to win market share in the mass consumer coffee sector, particularly after launching its first Nespresso-compatible aluminium capsules under the L’Or brand and announcing an exclusive partnership with the Illycaffè brand for 2019.

Keurig Dr Pepper, after its merger with Keurig Green Mountain, announced the acquisition of Big Red, Forto and Core Nutrition, and entered into a partnership agreement with Danone to be the exclusive distributor of Évian mineral water through its North American distribution network.

Key figures.

Combined sales for the subsidiaries to which FFP is exposed

$25bn

Total committed amount

$330m