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Stumptown Rep Says Company Has Not Been Sold

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Image of Stumptown courtesy supertrixiecat via Flickr

WWeek gets a representative from Portland's house roaster, Stumptown, to spill the beans (kinda) about yesterday's manic "OMG Stumptown's Been Sold" rumors. Stumptown director of operations Matt Lounsbury tells WWeek that "Duane [Sorenson] is very much in charge of Stumptown," adding that a "friend" of Sorenson has invested money in the company to help it grow. (Among the plans, according to Lounsbury, might be an entirely new Stumptown market.)

The same article notes, however, that documents filed with the state of Oregon on April 28 named Alexander S. Panos the "new registrant for businesses" — meaning the NYC-based Panos is now a representative for the company — while Stumptown Incorporated, registered in Sorenson's name, "is named as a withdrawing registrant." Panos, as widely reported yesterday, is a partner in the equity firm TSG Consumer Partners (which has invested in Vitamin Water and Voss Water in the past), hence fueling that "hipster sellout" backlash on Twitter.

In the WWeek piece, Lounsbury notably does not confirm whether Panos or Sorenson is the majority owner aside from his "Sorenson's in charge" comment, but a tipster tells Eater that things are operating business as usual. Hrm. More as this one unfolds...
· State Documents Show Shift Atop Stumptown Coffee [WWeek]
· All Previous Stumptown Coverage [Eater PDX]

Stumptown Coffee Roasters

1026 Southwest Harvey Milk Street, , OR 97205 (503) 224-9060 Visit Website

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