Peet's Coffee & Tea Inc. has partnered with private equity firm Next World Group to buy Mighty Leaf Tea, as the coffee house looks to accelerate its tea business.

Mighty Leaf Tea, headquartered in San Rafael, California, was founded in 1996 by Gary Shinner and Jill Portman. The company is known for artisan, blended teas and compostable, mesh tea pouch.

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