Joh. A. Benckiser, the investment arm of the billionaire Reimann family, agreed to buy D.E Master Blenders 1753 NV for about 7.5 billion euros ($9.8 billion) to build a coffee conglomerate in the industry’s biggest deal ever.

JAB will pay 12.50 euros a share, the companies said in a statement today, less than the price the parties disclosed they were discussing last month. Amsterdam-basedMaster Blenders’ board supports the offer, it said in the statement.

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