One of the world’s richest families has cut its stake in coffee giant JDE Peet’s NV as it reshapes investments in the beverage sector that made its fortune.
Alejandro Santo Domingo and his family sold €166.7 million ($184 million) of shares in the owner of Peet’s Coffee since the start of last year through early May, more than halving their stake, according to registry filings. They also sold part of a roughly $1 billion holding in Keurig Dr Pepper Inc. during the period and boosted their bet on Flying Embers, a maker of canned cocktails.
The Latin American dynasty has been raising cash by leveraging smaller listed holdings without touching their major asset: a stake in Budweiser-maker Anheuser-Busch InBev SA, which still makes up the bulk of their fortune. Colombia’s richest family now has a net worth of about $12 billion, according to the Bloomberg Billionaires Index.
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