On November 1st, Uncle Kaffe China responded, stating that JAB has always been a shareholder of Uncle Kaffe, and there is no recent ownership change being sold in the equity transactions. The signal released by the majority shareholder's shareholding is beneficial for the operation and development of Uncle Kaffe China's market. Recently, the media reported Uncle Kaffe is being sold to a new owner. This originated from October 21st when the European investment institution JAB announced its agreement to acquire 86 million shares of JDE Peet's held by Mondelez International at a price of 25.10 euros per share, totaling 2.16 billion euros. After the transaction is completed, JAB will become the largest controlling shareholder of JDE Peet’s, holding a 68% stake.