Reimann Family

European Billionaires Expand Coffee Empire

Coffee flows from a Keurig Green Mountain Inc. machine in this arranged photograph taken at a retail store in Princeton, Illinois, U.S., on Tuesday, Feb. 3, 2015. Keurig Green Mountain Inc. is scheduled to report quarterly earnings on Feb. 4. Photographer: Daniel Acker/Bloomberg via Getty Images
A cup of joe, please.
  • Why it matters

    Why it matters

    The Reimann family’s acquisition of specialty coffee maker Keurig creates the second-biggest coffee company in the world, increasing competition with Nestle.

  • Facts

    Facts

    • The Reimanns are a billionaire family originally from Germany whose wealth is estimated at €17.6 billion.
    • The company has used its money to carry out major deals through investment holding JAB and it owns Jacobs, Senseo, and Tassimo, as well as consumer brands like Bally, a maker of shoes and Coty, a perfume maker.
    • Keurig is a U.S. specialty maker of coffee and coffee machines and partially owned by Coca-Cola.
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    Audio

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Germany’s billionaire Reimann family on Monday said it will buy coffee capsule maker Keurig Green Mountain coffee for $13.9 billion to create the world’s second-largest coffee maker.

The Reimanns are scions of a German chemical industry fortune, who expanded the group over the last two decades into coffee and fashion brands such as Bally and Jimmy Choo.

Known as reclusive, the Austrian and German billionaires run a holding company called JAB that is located in Austria.

JAB, which stands for Joh. A. Benckiser, the 19th century founder of what became a chemical industry empire, is worth €17.6 billion, up €3.6 billion this year, according to Manager-Magazin, a German business publication.

JAB already owns coffee brands such as Jacobs, Senseo and Tassimo. The purchase of Keurig, a specialty coffee and coffee machine maker, is a joint venture with investors who are also already involved in Jacobs Douwe Egberts coffee company. Among the backers is Mondelez International, the U.S. food group formerly known as Kraft Foods and owner of brands such as Cadbury chocolate and Trident toothpaste.

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