In 2012, employees at a Peet's location in Chicago formed Peet's Worker's Group to address concerns about compensation, irregular scheduling, sick leave, and working conditions which resulted in frequent wrist injuries. Three representatives from Peet's corporate visited their store, where they attributed workers' complaints to the performance of manager of that location, and declined to discuss further concerns except in one-on-one meetings. The group subsequently lost momentum, and the lead organizer was fired after clocking in late for the third time in one year. Remaining members of Peet's Worker's Group attributed her firing to a selective enforcement of the company's lateness policy. In 2012, Peet's was taken private when it was acquired by Joh. A Benckiser, a German investment group, for $977.6 million, or $73.50 per share. At that time, the acquisition was one of the largest prices paid for a Berkeley-founded company. JAB Holding (Joh. A Benckiser) also owns minority stakes in the consumer products companies Reckitt Benckiser, Coty, Inc. and control of luxury brands Bally, Belstaff and Jimmy Choo. JAB Holding later acquired a portion of Caribou Coffee. In August 2014, Peet's acquired Mighty Leaf Tea, a specialty tea brand based in the Bay Area, in partnership with Next World Group. It was announced in October 2015 that Stumptown Coffee Roasters would become a wholly owned subsidiary of Peet's. Later that same month, Peet's announced that it was acquiring a majority stake in Chicago-based Intelligentsia Coffee & Tea. In December 2016, Peet's announced that it was building a second roaster in Suffolk, Virginia. The 175,000-square-foot facility will cost $58 million and was set to open in 2018. At that time, the Alameda roaster was producing approximately 1 million pounds of coffee each week. Peet's opened its first location in Shanghai, China, in October 2017. On May 29, 2020, JDE Peet's, the owner of Peet's Coffee, raised $2.5 billion by taking the company public on the Euronext Amsterdam stock exchange in a deal that valued the company at $17.3 billion. Defying the coronavirus pandemic and economic slowdown, it was the largest initial public offering in Europe during the first five months of 2020 and the second biggest IPO in the world. By 2018, Peet's operates over 200 retail locations in 11 states: California, Washington DC, Virginia, Tennessee, Nevada, Washington, Oregon, Colorado, Illinois, Massachusetts and Maryland, and has expanded to China, opening a location in Shanghai.