- The billionaire Reimann family, which owns JAB Holding Company, says it's donating more than $11 million to charity after uncovering the extent of its ancestors' Nazi activity.
- JAB Holding owns brands including Keurig, Panera, Krispy Kreme, and Pret a Manger.
- The company has become a massive player in the coffee, snack, and sandwich industry over the last decade.
The family behind the company that owns Krispy Kreme, Caribou Coffee, and Panera Bread is donating more than $11 million in attempts to atone for its ancestors' Nazi past.
JAB Holding, the investment arm of the secretive Reimann family, acquired Krispy Kreme for roughly $1.35 billion in 2016. Since then, JAB has acquired brands including Panera, Au Bon Pain, and Pret A Manger.
According to The Associated Press, Bild, Germany's largest newspaper, reported on Sunday that it had uncovered documents that revealed Albert Reimann Sr. and Albert Reimann Jr. were supporters of the Nazi party and that during World War II they used Russian civilians and French prisoners of war as forced laborers.
"There is nothing to gloss over. These crimes are disgusting," Peter Harf, a representative for the family, told Bild, according to the AP. A JAB representative told Business Insider that the donation was decided in late January, before the Bild report, and that the family did not have any further comment.
When Albert Reimann Sr. was in control of JAB, the company was focused on industrial chemicals. In recent years, however, the holding company has acquired some of the biggest names in food and beverage.
Here's the story of the firm.
JAB acquired Peet's Coffee and Tea in 2012.
JAB Holding acquired Peet's back in 2012 for about $1 billion.
It then did a deal for Caribou Coffee.
JAB also runs Caribou Coffee Co., which it acquired in 2013 for $340 million. Caribou Coffee is based in Minnesota.
Next up was D.E Master Blenders 1753.
JAB struck a deal in 2013 to buy D.E. Master Blenders 1753, which had been spun out of Sara Lee Corp. a year earlier, for $9.8 billion.
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