updated - August 8, 2020 Saturday EDT
Peet’s Coffee & Tea has announced in a press release that they are acquiring a majority stake in Intelligentsia Coffee. The acquisition gives Peet’s Coffee access to Intelligentsia’s third wave coffee movement and expand its offering of super-premium coffee.
Peet’s Coffee & Tea announced in a press release that they will be acquiring the ownership of Stumptown Coffee Roasters from its shareholders, including TSG Partners LLC, who holds a majority stake at Stumptown Coffee. Both companies will still continue to operate independently from each other with Peet’s Coffee providing Stumptown Coffee with full access to its resources and scale.