Nestle agrees to buy majority stake in California’s Blue Bottle Coffee
Global food and beverage company Nestle has agreed to acquire a significant stake in the California-based Blue Bottle Coffee for an undisclosed amount.
As per the terms of the deal, Blue Bottle Coffee will retain a 32% stake in the business and will continue to operate as a stand-alone entity.
Founded in 2002 in California, the company has been sourcing and roasting sustainable coffees and serving them in cafes located in North America and Japan.
CEO Bryan Meehan said: “My goal as CEO has been to secure a sustainable future for Blue Bottle Coffee that would enable it to flourish for many years to come.”
With the new partnership, Blue Bottle intends to further enhance its coffee technologies and create novel products.
It also plans to open new cafes and roasteries in the US and overseas markets.
Nestlé CEO Mark Schneider said: “This move underlines Nestlé’s focus on investing in high-growth categories and acting on consumer trends. Blue Bottle’s passion for quality coffee and mission-based outlook make for a highly successful brand.
“Their path to scale is clearly defined and benefits from increasing consumer appreciation for delicious and sustainable coffee.”
Blue Bottle will continue to operate out of its Oakland headquarters.