Draft:Wolfgang Reimann
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Wolfgang Reimann | |
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| Born | October 4, 1952 |
| Occupation(s) | Co-owner, JAB Holding Company |
Wolfgang Reimann
Wolfgang Reimann is a billionaire businessman and one of the primary shareholders of JAB Holding Company, a Luxembourg-based investment firm, along with three of his siblings. JAB is known for its diverse portfolio of investments across various sectors, including consumer goods, coffee, luxury fashion, animal health, and fast food.
Biography[edit]
Overview[edit]
Wolfgang Reimann inherited a significant stake in JAB along with his siblings after the death of their father in 1984. The Reimann family is descended from chemist Ludwig Reimann, who, in 1828, partnered with Johann Adam Benckiser to establish a chemical company. JAB made its foray into the pet care sector in 2019 with the acquisition of Compassion-First Pet Hospitals. Notable brands associated with the Reimann family fortune include Pret A Manger, Krispy Kreme, Peet's Coffee, and Panera Bread.
Business Ventures[edit]
JAB's investment portfolio spans a wide array of industries, with notable acquisitions including Keurig Green Mountain in 2016 for $13.9 billion, Krispy Kreme for $1.35 billion in 2016, and Panera Bread for $7.5 billion in 2017. Additionally, JAB has expanded into the pet care industry with acquisitions such as Compassion-First Pet Hospitals and National Veterinary Associates. The company also owns significant stakes in Keurig Dr Pepper and several coffee brands including Stumptown Coffee and Intelligentsia Coffee & Tea.
Ownership Structure[edit]
Initially, each of the nine children of Albert Reimann Jr. inherited an 11.1% ownership stake in JAB. Over time, five heirs divested their shares, leaving Wolfgang Reimann and three other primary shareholders as the main owners of JAB. As of January 2015, each of the four primary shareholders owns approximately $3.8 billion in JAB shares. The primary shareholder of JAB is Agnaten SE, a company based in Austria and listed as a subsidiary of Joh. A. Benckiser GmbH, the investment vehicle of the Reimann family.
Founder's Controversy[edit]
The founders of JAB Holding Company, Albert Reimann Sr. and Albert Reimann Jr., were revealed to have ties to Adolf Hitler and the Nazi party prior to their rise to power. The Reimann family profited from forced labor in their industrial chemicals company during the Nazi regime. Emilie Landecker, Albert Jr.'s mistress and mother of some of the Reimann heirs, was discovered to be the daughter of a Jewish man deported during the Holocaust. In response to these revelations, the Reimanns renamed their family foundation after Emilie Landecker's father and increased its budget to €25 million to fund projects honoring Holocaust victims. These revelations have sparked discussions about the ethical implications of supporting companies with historical ties to forced labor.