Peet's Coffee to Acquire Majority Stake in Revive Kombucha
Latest Investment by Craft Coffee Brand Paves the Way to Scale Operations and Reach of Revive Kombucha Ready-to-Drink and On Tap Craft Brewed Beverages
EMERYVILLE, Calif., Dec. 20, 2018 /PRNewswire/ -- Peet's Coffee®, The Original Craft Coffee™, today announced that it has acquired a majority stake in Revive Kombucha™, a craft brewery based in Petaluma, California. Terms of the transaction were not disclosed.
Revive offers an array of naturally fermented, organic, non-GMO, Fair Trade certified, ethically sourced and raw bottled and on tap Kombucha. It maintains a strong presence in the United States, with a rapid national growth of over 168% percent versus a year ago (52 weeks IRI MULO, 4 November 2018). The latest financing by Peet's will continue to scale the Revive brand, grow its brewery operations and broaden its distribution via the coffee company's network, while assuring absolute product quality and superior taste. "Building an evergreen ecosystem for the Revive brand has always been part of our mission," said Sean J. Lovett, Founder and CEO of Revive Kombucha. "We are excited to further solidify our long-term partnership with Peet's to fulfill our greater purpose of bringing our super tasty and good-for-you beverages to a larger audience."
Peet's expects to expand the Revive market reach in on-premise, grocery and Peet's coffeebar locations. The inherent match of delivering Revive across consumer facing Peet's channels will strengthen and accelerate the growth of its pioneering chilled beverage portfolio.
"Kombucha is a natural adjacency to ready-to-drink coffee and our consumers tend to love both," said Eric Lauterbach, President of the Consumer Division at Peet's Coffee. "Adapting our growth strategy to extend access and trial of superior beverage choices across channels in new and convenient locations is key. And knowing the ongoing consumer shift to better for you and functional beverages, our latest long-term investment in Revive reflects our belief in the future growth of the brand."
Sean J. Lovett and Rebekah Lovett, co-founder, will maintain their equity and leadership positions at the company, while also maintaining the brand's innovative approach to batch brewing and natural fermentation methods.
About Peet's Coffee:
Peet's Coffee® is a U.S. specialty coffee company founded by Alfred Peet in 1966 in Berkeley, California. Mr. Peet grew up in the coffee trade and moved to America from Holland after World War II. His coffee style was unlike anything Americans had ever tasted before—small batches, fresh beans and a superior quality roast that is rich and complex. Mr. Peet's influence on the artisan coffee movement inspired a new generation of coffee entrepreneurs, including the founders of Starbucks. Today, Peet's upholds its commitment to delivering a premium product by continuing to source the world's best beans, hand-roast in small batches, and craft every beverage by hand. Peet's also asserts a strict standard of freshness to ensure optimum flavor with a team that personally vets the freshness date on every bag and on every ready-to-drink (RTD) coffee available at over 15,000 grocery locations. Peet's is dedicated to growing its business through its retail, grocery, on-premise, and e-commerce channels while maintaining the superior quality of its coffee. Peet's is also proud of its status as the first LEED® Gold certified roastery in the United States. For more information, visit www.peets.com. Stay connected to Peet's: @peetscoffee on Twitter and Instagram and facebook.com/peets.
About Revive Kombucha:
Revive Kombucha is a culture-driven, craft kombucha brewery launched at the Sonoma County Farmers Market in 2010 and located in Petaluma, CA. Their mission has always been to sustainably produce the best tasting kombucha using the highest quality ingredients and most innovative craft brewing techniques: from their vertically integrated brewery, to being the first to market with brewing innovations (hibiscus and ginger caffeine free brews, and other non-tea brews with coffee, yerba mate and cacao) in their product line. Revive works as hard to take care of the people and world around them as they do in brewing their kombucha. This shows in their sustainability initiatives—from their early efforts with bio-diesel delivery and award-winning Bottle Exchange program, to their current efforts with water reclamation and conservation in the brew process, and always offering living-wages and above standard benefits to employees. For more information, visit https://revivekombucha.com. Join the Revive Kombucha conversation: @revivekombucha on Twitter and Instagram and facebook.com/revivekombucha.
SOURCE Peet's Coffee
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