Food and beverage company Nestlé USA has acquired crafted coffee provider Chameleon Cold-Brew in an attempt to diversify its portfolio.

Established in 2010, Chameleon focuses on multi-serve concentrates and single-serve ready-to-drink (RTD) products. These two segments have an 18% market share in the $2.5bn at-home coffee category.

Chameleon Cold-Brew co-founder and CEO Chris Campbell said: “Chameleon has been extremely fortunate to grow from our hometown base of cold-brew lovers in Austin to a national brand in just a few short years.

“Partnering with a world-class company such as Nestlé will give us the opportunity to do so on a bigger platform. Our shared values around product integrity and commitment to sustainability made Nestlé the best choice to enable Chameleon Cold-Brew to accomplish our goals for the future.”

“Established in 2010, Chameleon focuses on multi-serve concentrates and single-serve ready-to-drink (RTD) products.”

Products offered by Chameleon cater to multiple segments such as RTD cold-brew, cold-brew concentrate, kegs, cold brew kits, and whole bean coffee.

Nestlé USA chairman and CEO Paul Grimwood said: “We believe the Chameleon brand is perfectly positioned to support Nestlé’s strategy for coffee, which is to have a variety of offerings in terms of format, taste, and price points.

“We believe this relationship will benefit both of us as we expand our access to the emerging cold brew category while helping Chameleon grow so that more people can enjoy its delicious, premium crafted coffee.”