Image of Stumptown courtesy Todd E. via Yelp
Looks like the New York Times has landed the first interview with Stumptown founder Duane Sorenson and brand-spankin'-new investor Alex S. Panos, who directly address the rumors that the Portland-based coffee roaster has been sold.
In two (separate?) telephone interviews, both Sorenson and Panos say that Sorenson still owns Stumptown. "I'm still in control of Stumptown," Sorenson says. "The only thing that's changed is that I brought in an investor, a buddy of mine, who brought in some money so that I can do the things I want to do." (According to the article, the investment from Panos' TSG Consumer Partners will go toward opening roasters in Chicago and San Francisco, in addition to a bottling facility in Red Hook, Brooklyn.)
Panos tells the Times that "he was not, in fact, an officer of Stumptown Coffee Roasters and was listed as such only for filing purposes," and that he is simply an investor in Stumptown's growth — adding in a phone interview that "getting some money to grow your business is not evil." Click through for the full read.
· Stumptown Expands with the Help of a Powerful Investor [NYTimes]
· All Previous Stumptown Coverage [Eater PDX]