ARLINGTON, VA. — Nestle USA has acquired Chameleon Cold-Brew, an Austin, Texas-based maker of premium coffee. Financial terms of the transaction were not disclosed.
Founded in 2010, Chameleon Cold-Brew is one of the top three refrigerated cold brew brands and the top selling organic cold-brew coffee brand in the United States. The company offers multi-serve concentrates and single-serve ready-to-drink products in a variety of flavors with nationwide distribution at retailers, including Whole Foods Market, Target, Safeway and many others.
|Chris Campbell, co-founder and c.e.o. of Chameleon Cold-Brew|
“Chameleon has been extremely fortunate to grow from our hometown base of cold-brew lovers in Austin to a national brand in just a few short years,” said Chris Campbell, co-founder and chief executive officer. “Partnering with a world-class company like Nestle will give us the opportunity to do so on a bigger platform. Our shared values around product integrity and commitment to sustainability made Nestle the best choice to enable Chameleon Cold-Brew to accomplish our goals for the future.”
Mr. Campbell will continue to lead the business, which will remain Austin-based and independent, according to the company.
The world’s largest coffee producer, Nestle recently acquired a majority stake in Blue Bottle Coffee, an Oakland, Calif.-based specialty coffee roaster and retailer. The deal marked Nestle’s entry in the fast-growing, super premium coffee shop segment and is expected to offer opportunities to grow in super premium ready-to-drink, roast and ground coffee.
|Paul Grimwood, chairman and c.e.o. of Nestle USA|
The acquisition of Chameleon expands Nestle’s access to the emerging cold-brew coffee segment, said Paul Grimwood, chairman and c.e.o. of Nestle USA.“We believe the Chameleon brand is perfectly positioned to support Nestle’s strategy for coffee, which is to have a variety of offerings in terms of format, taste and price points,” Mr. Grimwood said.