LUXEMBOURG — The JAB Holding Co. has made a bid to acquire OldTown Berhad, a coffee manufacturer based in Malaysia, for approximately $361 million. The bid was made through JAB’s Jacobs Douwe Egberts Holdings Asia.
Founded in 1999, the OldTown business is made up of coffee manufacturing and cafe chain operations. It offers products in 17 markets, including Malaysia, Hong Kong, China, Macau, Singapore, Taiwan, the United States, Canada, Indonesia, the Philippines, Thailand, Brunei, the United Kingdom, Australia, Myanmar, Cambodia and New Zealand.
“We are deeply honored that J.D.E. recognizes the powerful brand and platform that we have tirelessly built over the past 18 years,” said Lee Siew, group managing director of OldTown. “We strongly believe J.D.E. is the ideal partner as we continue to serve best-in-class products to our customers. We look forward to drawing on J.D.E.’s deep global expertise and building a highly successful partnership with them.”The acquisition would add to JAB Holding’s extensive coffee assets, which include such brands as Keurig Green Mountain, Peet’s Coffee and Tea, Caribou Coffee and others.