Nestle Takes Majority Stake in US High-End Coffee Firm
September 14, 2017
Swiss food and beverage giant Nestle announced Thursday that it has acquired a majority stake in high-end coffee roaster Blue Bottle Coffee, bolstering the firm’s position in the U.S. and Japanese coffee markets.
“This move underlines Nestle’s focus on investing in high-growth categories and acting on consumer trends. Blue Bottle Coffee’s passion for quality coffee and mission-based outlook make for a highly successful brand,” said Nestle’s chief executive officer Mark Schneider in a press release.
Based in Oakland, CA, Blue Bottle owns coffee shops in the U.S. and Japan and produces ready-to-drink, roast, and ground coffee products for retail sales. Currently the coffee company is expanding the number of its coffee shops to 55 by the end of 2017 from 29 at the end of 2016.
“Nestle is entering the fast-growing, super premium coffee shop segment with an iconic brand for discerning coffee drinkers. Blue Bottle Coffee allows Nestle to strengthen its position in the U.S. coffee market, the largest in the world, as well as international, building on success in Japan,” the firm said in its release.
The Swiss firm, the world’s largest coffee producer, said it would also explore growing the American brand through online subscriptions.
Following the acquisition, Blue Bottle will operate as a stand-alone entity, Nestle said. Blue Bottle’s current chief executive officer, Bryan Meehan, will remain in his role and founder James Freeman will become the company’s chief product officer.
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