Jimmy Choo Parent Company Trades in Shoes for Coffee

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Jimmy Choo’s parent company JAB Holding is putting the high-end shoe brand up for sale.  JAB Holding acquired the brand in 2011 for $800 million, representing 68% of the company, and took it public in 2014.

The New York Times reported that JAB Holding is also reviewing Swiss leather goods brand Bally as a possible candidate to shop around as well.

The impetus of the possible sale of Jimmy Choo comes as JAB Holdings has been building a coffee-and-food empire in the U.S. by acquiring American coffee brands like Peet’s Coffee & Tea, Caribou Coffee and Keurig Green Mountain. This month, it agreed to purchase Panera Bread for $7.5 billion.

JAB Holding, based in Luxembourg, Germany, wants to focus its investments in beauty companies like Coty, in which it has a 37% stake, along with its high-end coffee and food businesses.

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