Peet’s Coffee & Tea Tuesday announced that it will acquire Stumptown Coffee Roasters, the producer of cold-brew and other coffee beverages that have garnered somewhat of a cult following.
Peet’s, which is owned by Caribou Coffee and Einstein Noah parent JAB Holdings, will continue its current growth strategy, “operating ‘as-is’” across its cafe locations and retail venues, while Stumptown will continue to operate independently, Peet’s said. Terms of the deal were not disclosed.
"It is with great enthusiasm that we welcome Stumptown to the Peet's family," said Peet’s CEO Dave Burwick. "Stumptown is an innovative leader in premium and cold brew coffee, and we're excited to support and further elevate their presence while extending their reach to more consumers."
Stumptown operates 10 cafe outposts, primarily on the West Coast, and produces ready-to-drink coffees sold in retail and restaurant locations.
Aside from the acquisition, Peet’s has been gearing up for another big change, as it prepares to roll out all-day breakfast to its 243 units after a test run underway in the Chicago area. The cafe company also acquired the Mighty Leaf Tea brand last year.
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