Nestlé acquires majority interest in Blue Bottle Coffee
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Nestlé S.A. /
Nestlé acquires majority interest in Blue Bottle Coffee
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Vevey, 14 September 2017
Nestlé acquires majority interest in Blue Bottle Coffee
Nestlé today announced that it has acquired a majority stake in Blue Bottle
Coffee, a high-end speciality coffee roaster and retailer based in Oakland,
California.
Over the last 15 years, Blue Bottle Coffee has achieved iconic status amongst
discerning coffee drinkers. It offers one of the highest quality coffees
available, with an uncompromising attention to taste, freshness and
sustainability.
The company operates coffee shops in major US cities and in Japan, with a unique
minimalist style that also incorporates elements of the surrounding
neighbourhood. The total number of Blue Bottle Coffee shops is expected to reach
55 by the end of 2017, up from 29 at the end of last year. Blue Bottle Coffee
has also launched super premium ready-to-drink and roast and ground products,
sold online and in the retail market.
Blue Bottle Coffee will continue to operate as a stand-alone entity, while
having full access to Nestlé's well-recognised capabilities in coffee and its
strong global consumer reach. The current management and employees will retain a
minority stake and continue to run the business with the same entrepreneurial
spirit that has made the brand so successful. That includes Bryan Meehan
remaining as CEO and founder James Freeman as Chief Product Officer.
Nestlé CEO Mark Schneider: "This move underlines Nestlé'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. Their path to scale is clearly defined and benefits from
increasing consumer appreciation for delicious and sustainable coffee."
With the acquisition of Blue Bottle Coffee, Nestlé is entering the fast-growing,
super premium coffee shop segment with an iconic brand for discerning coffee
drinkers. Blue Bottle Coffee allows Nestlé to strengthen its position in the US
coffee market, the largest in the world, as well as internationally, building on
success in Japan. It also offers opportunities to grow in super premium ready-
to-drink and roast and ground coffee, largely through online subscription.
Blue Bottle Coffee CEO Bryan Meehan: "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. I'm excited to work with Nestlé to take a long-term approach
to becoming a global leader in speciality coffee. We felt a real kinship with
the team and knew it was the right move for us."
Nestlé is the world's largest coffee producer, with brands including Nescafé and
Nespresso. Nescafé is the world's leading coffee brand available in over 180
countries, with nearly 5,500 cups consumed every second. Nespresso has more than
600 boutiques and about 465,000 daily visits to its e-commerce platforms.
Contacts
Media: Robin Tickle Tel.: +41 21 924 22 00
Investors: Steffen Kindler Tel.: +41 21 924 3509
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nestlé S.A. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 14.09.2017 - 18:01 Uhr
Sprache: Deutsch
News-ID 560001
Anzahl Zeichen: 4240
contact information:
Town:
Vevey
Kategorie:
Business News
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