When word got out that Peet's Coffee & Tea would buy Portland's beloved Stumptown Coffee, people were divided: Some were shocked, while others said the TSG investment firm's 2011 acquisition of Stumptown Coffee had already transformed the company. Now it's confirmed that Peet's officially owns Stumptown, and Stumptown president Joth Ricci tells the New York Times that the two companies will continue to operate as separate brands. Peet's coffee will not be sold in Stumptown cafes or vice versa, and in general, you supposedly won't even notice any difference. That said, Stumptown's VP of wholesale and retail Matt Lounsbury simultaneously confirmed with the Times that the deal was made to help Stumptown "grow."
It's Confirmed: Peet's Owns Stumptown Coffee, Announces Plans
The two brands aim to operate separately.
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