Economy

Dublin entrepreneur sells hips coffee chain in €420m deal with Nestle

Dublin entrepreneur sells hips coffee chain in €420m deal with Nestle”

In addition to retail shops, Blue Bottle Coffee has also launched ready-to-drink and roast and ground products that are sold online and in the retail markets.

The cycle from homegrown, artisanal coffee bar on an alley to selling out to an global food conglomerate is complete, as it's announced today that Swiss food giant Nestle has purchased a 68-percent majority stake in Bay Area-based Blue Bottle Coffee.

The Oakland, California-based company operates shops in the US and Japan and is expected to reach 55 stores by the end of 2017, up from 29 a year earlier, Nestle said in a statement Thursday.

Blue Bottle's Meehan and Freeman said in a company blog post that their decision to sell to Nestle was a "complex" one, "involving many discussions, considerations, questions". Blue Bottle's current chief executive officer, Bryan Meehan, will remain in his role and founder James Freeman will become the company's chief product officer.

"This move underlines Nestle'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".

The New York Times doesn't have the financial details of the deal, but they say it marks "one of the surest signs yet of how so-called third-wave specialty coffee - the kind that inspires nearly monastic devotion to pour-over brews and perfectly steeped drinks - has become a hot business".

Blue Bottle opened its first coffee shop in Oakland, California, 15 years ago.

A reputation for high-end coffee and sleek, minimalist interiors have attracted plenty of customers to Blue Bottle Coffee stores in Echo Park, Los Feliz and elsewhere. Many of its shops are in the Bay Area, but it has expanded to cities such as NY and Tokyo.



Like this

loading...
loading...

Latest


14 September 2017
Steelers' physicality will be a challenge for Vikings
When their only game is against the best running back in the National Football League you have to wonder how that happens. Pittsburgh will go on the road in their next two games at the Chicago Bears and at the Baltimore Ravens.

14 September 2017
Saints defender Van Dijk could return at Palace
Ninety per cent of it is thinking about us, our style and our model. He played 90 minutes the other day, the reserve game.

14 September 2017
DeShaun Watson Expected to Start For Texans
O'Brien is expected to receive criticisms if Watson really will be the starter against the Bengals. The Bengals lost 20-0, and quarterback Andy Dalton looked disgusting .

14 September 2017
Facebook is testing a Houseparty-like group video chat app
The description of the app states that it is a "Group Video Chat" app which may sound similar to group video chat on Skype. The social network's app, called Bonfire , has popped up in the Danish App Store - as was first spotted by The Next Web .

14 September 2017
CDOT Announces Colorado As Winner For Hyperloop Route Concept
The winning route would make several stops between Pueblo and Cheyenne, and even head out west to Vail. The Hyperloop One will carry passengers and cargo in a pod that travels via a low-pressure tube.

14 September 2017
This Is Who Paul Plans on Taking to Final 2
Kevin and Alex are on the chopping block at the end of the episode, with Paul already having said he wouldn't use his veto. After throwing comps for the past two weeks, the returning vet decided it was time to give it his all.

14 September 2017
Canada urges Myanmar leader to end Rohingya violence
US Ambassador to the UN Nikki Haley tweeted her gratitude to Bangladesh for taking in the deluge of refugees. Meanwhile, it seems Suu Kyi will not travel to NY this month for the annual session of the U.N.

14 September 2017
Odell Beckham Jr. goes through team drills with Giants
New York Giants wide receiver Odell Beckham Jr . returns to practice in East Rutherford , NJ on Thursday, September 14, 2017. The Giants said Beckham will still appear on their injury report ahead of Monday's game against the Detroit Lions .

14 September 2017
Hurricane Jose weakens a little as it turns east in Atlantic
But before reaching the U.S., Irma achieved a number of records that will have meteorologists talking about it for years to come. A tropical storm warning was issued for the first time ever in Atlanta, and school was canceled in communities around the state.

14 September 2017
Schoolboy murder: Bombay HC refuses pre-arrest bail to Pintos
The Bombay High Court on Thursday rejected anticipatory bail applications of Augustine Pinto, Grace Pinto and Rayan Pinto. All three have been granted interim protection till 5 pm tomorrow, according to the court's order.