SAN FRANCISCO--(BUSINESS WIRE)--TSG Consumer Partners, a leading investment firm focused exclusively on the branded consumer sector, today announced that it has completed its sale of Stumptown Coffee Roasters to Peet’s Coffee & Tea.
“As an innovative leader in third wave and ready-to-drink cold brew coffee, Stumptown’s product quality and brand appeal have led to tremendous growth over the past five years,” said Jamie O'Hara, President of TSG. “We are grateful for the opportunity to work with Stumptown’s passionate founder, Duane Sorenson, and the management team led by President Joth Ricci and to be part of the Company’s journey. We look forward to watching them continue to flourish in the future.”
Stumptown will continue to operate independently while having full access to Peet’s resources and scale. Terms of the transaction were not disclosed.
William Blair & Company, L.L.C. served as financial advisor to Stumptown, and Sidley Austin LLP served as its legal counsel. Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel for Peet’s Coffee & Tea.
About TSG Consumer Partners LLC
TSG Consumer Partners LLC is a leading investment firm with approximately $3 billion of assets under management, focused exclusively on the branded consumer sector. Since its founding in 1987, TSG has been an active investor in the food, beverage, restaurant, beauty, personal care, household and apparel & accessories, and ecommerce sectors. Representative past and present partner companies include vitaminwater, thinkThin, popchips, Muscle Milk, Yard House, Stumptown, Pabst, Planet Fitness, REVOLVE Clothing, Smashbox Cosmetics, Pureology, Sexy Hair, e.l.f. cosmetics and IT Cosmetics.
About Stumptown
Founded in 1999, Stumptown Coffee Roasters is headquartered in Portland, Oregon and operates 10 retail cafes in Portland, Seattle, New York, and Los Angeles, together with roasting facilities in each city. Stumptown also has a wholesale presence with its beans and ready-to-drink cold brew beverages available in premium grocery outlets and restaurant accounts across the U.S.
About Peet's Coffee & Tea
Peet's Coffee & Tea is a U.S. specialty coffee company founded by Alfred Peet in 1966 in Berkeley, CA. Mr. Peet grew up in the coffee trade and moved to America from Holland after World War II. Mr. Peet’s coffee style was unlike anything Americans had ever tasted before - small batches, fresh beans and a superior quality roast that is rich and complex. Alfred Peet's influence of the artisan coffee movement inspired a new generation of coffee entrepreneurs, including the founders of Starbucks. Today, Peet’s Coffee upholds its commitment to high quality and freshness by sourcing the world’s best beans, roasting in small batches, and maintaining a strict standard of freshness through its unique direct store delivery network. Peet's continues to grow its business through its retail, grocery and e-commerce channels while maintaining the premium quality of its coffee. Peet’s is a private business owned by JAB Holding Co. For more information visit www.peets.com. To access Peet’s full store list, go here.