Peter Harf will withdraw from JAB after overseeing the agreement of more than $ 50 million

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Peter Harf, President and Managing Partner of Jab Holdings, Europe, retires after more than 40 years building the fortune of the Reaimann Matcible family of Germany, as the investment group he created created his portfolio of consumer goods in insurance and asset management.

The 78-year-old German executive will be succeeded by members and co-executives Joachim Creus and Frank Engelen, Sunday announced on Monday. Creus will become President and Engel will be the vice president.

Harf’s retirement ends a four -decades career in which it became one of the most powerful dealerships in Europe.

He is credited with transforming a obscure German chemical company, controlled by the Reimann family, into a conglomerate that has important stakes in some of the largest consumer brands in the world, including Keurig Dr Pepper, Pret a Manger, Krispy Kreme and JDE Peet.

Harf helped turn the heirs of the Reimann Intensely Private family, which goes back to the training of the Bencckiser chemical business in 1823, into billionaires.

In 2012, Harf established the Jab Holdings investment group. In addition to directing the wealth of the family, including their investments in consumer brands, JAB members collected capital of other families and rich endowments, to finance an offer of more than $ 50 million.

However, JAB’s excessive confidence in consumer -centered brands was poorly exposed by dramatic changes in behavior during pandemic and subsequent inflationary expense, which pushed the consumer spending power power. Jab is aggressively diversifies in life insurance and assets management in search of more reliable revenue flows.

A spokesman for the Reimann family said that Creus and Engelen had “established a convincing strategic vision to prepare JAB for the next generation of long -term sustainable growth”.

The spokesman added that the couple launched last year the new firm’s life insurance division and made their first acquisition in the sector. The agreement for the life of prosperity, which manages assets of $ 25 million, valued The insurer to more than $ 3 million.

Despite his new approach, JAB continues to maintain important stakes in consumer companies, including the Coty and Panera Brands beauty group, which owns bakeries and cafes. Jab’s portfolio value is over $ 70 million.

The company Monday said that Harf will remain “totally invested” in the firm and will continue to serve as president of the non -profit organization of the Reimann family, the Alfred Landecker Foundation.

“I would like to thank the Reimann family, who, more than 40 years ago, entrusted me to take the journey of a lifetime,” Harf said. “Now it’s time to pass the baton to a new leadership generation.”