German investment group JAB will press ahead with an IPO for Dutch coffee company Douwe Egberts within the next few weeks, the company confirmed on Tuesday.

AB Holdings, which bought Douwe Egberts in 2013 in a €7.5bn deal, wants to sell a minority stake in the company to raise an estimated €700m via a new share offering. The cash will be used to improve its financial position and pay off loans, the company said.

At the same time, several existing shareholders will cash in, taking the total IPO, according to the Financieele Dagblad, to between €800m and €1.3bn.

Douwe Egberts was first floated in 2012 by then owner Sara Lee but taken off the market by JAB a year later. The new flotation will be under the name JDE Peet’s. JAB merged Douwe Egberts and US coffee group Peet’s at the end of last year.