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Coffee Wars

Screen%20shot%202012-07-23%20at%2010.00.59%20AM.pngToday Peet's Coffee & Tea announced that the caffeinated beverage company has been acquired by entrepreneur Joh. A. Benckiser for about $1 billion. The shift and new equity will enable Peet's to compete with ever growing brands such as Starbucks. [Chicago Tribune]