It’s been rumored for quite some time that California-based Peet’s Coffee & Tea Inc. was up for sale, and many people have been sipping on their beverages, waiting for the seemingly inevitable announcement that Starbucks would be the buyer. And then comes today’s news that Peet’s has been purchased for $977.6 million, not by Daddy Starbucks, but by German conglomerate Joh. A. Benckiser. [More]