Charger Investment Partners, a Hermosa Beach, Calif.-based investment firm, on Thursday said it has completed a growth investment in Beans & Brews Coffeehouse in partnership with its founders, Jeff and Kevin Laramie. Terms of the deal were not disclosed.
Beans & Brews is headquartered in Sandy, Utah, and is a leading franchisor of coffee shops in Utah, Idaho and Nevada. It is also a wholesaler of specialty roasted coffee beans.
The chain, which operates 58 locations, was founded in 1993 in Salt Lake City. “Beans & Brews Coffeehouse has differentiated itself under the Laramie family’s leadership by offering an extraordinary experience through a commitment to providing freshly roasted coffee and premium ingredients, offering a comfortable atmosphere that is warm and welcoming, and supporting the communities in which employees and customers live and work,” Kim Pollack, cofounder and partner at Charger, said in a statement.
As part of the transaction, Charger’s operating partner, Chris Dull, will join B&B’s board of directors. Dull has extensive experience as a CEO and board member working with businesses in the food and beverage and franchise space.
“We are confident that Charger, with their expertise and insights, will accelerate the company’s growth while maintaining our core values,” B&B CEO Jeff Laramie said in a statement.
Winston & Strawn was legal advisor to Charger on the investment while BKD Capital advisors was B&B’s financial advisor. Dentons Durham Jones Pinegar acted as the coffee chain’s legal advisor.