Will coffee thrive in a downturn?

The company behind Peet’s Coffee has raised $2.5 billion in one of 2020's biggest initial public offerings, valuing the coffee business at €15.6 billion ($17.3 billion). The move by investment firm JAB Holding comes as at-home coffee demand has grown through the pandemic, even as coffee stores and consumer goods companies falter. The offering is a key test to see how the IPO market can fare during the pandemic, and reflects strong faith in the notion that coffee will remain in demand during an economic downturn, says The Wall Street Journal.