BIRMINGHAM, ALA. — Royal Cup, Inc., an importer, roaster and distributor of premium and specialty coffees and teas, has finalized an agreement to acquire Richgood Gourmet L.L.C., manufacturer and distributor of Icebox Coffee. Financial terms of the transaction were not disclosed.
Icebox Coffee is a New Orleans-inspired line of shelf-stable, cold brew coffees available in ready-to-drink and concentrate forms. Varieties include Madagascar Vanilla, Magic City Mocha and New Orleans Style.
|William Smith, c.e.o. of Royal Cup|
“Richgood Gourmet perfectly complements Royal Cup in its commitment to innovation, product quality and excellent client service,” said William E. Smith III, chief executive officer of Royal Cup. “Combining forces to expand our cold brew offering and improve our ready-to-drink product mix is a strategic move.”
Founded in 2012, Richgood Gourmet sells Icebox Coffee nationwide in such retailers as Whole Foods and Central Market. The company also supplies shelf stable, cold brew coffee to retail chains for private label use.
|Bebe Goodrich, founder and former president of Icebox Coffee|
“Icebox Coffee has been on a tremendous growth trajectory over the past five years, and I’m immensely proud of the company we’ve built,” said Bebe Goodrich, founder and former president of Icebox Coffee. “Now is the perfect time for us to join Royal Cup to achieve even greater success. Royal Cup’s strength, scale and international footprint will ensure that we continue to deliver the best cold brew coffees, teas and other all-natural, ready-to-drink beverages to our valued customers.”
Ms. Goodrich will join Royal Cup as director of liquid product innovation. In her new role, Ms. Goodrich will lead new product development initiatives for Royal Cup’s liquid manufacturing vertical, the company said.
“We are excited for Bebe to join us, and are confident that her industry expertise and entrepreneurial spirit will shape the future of Royal Cup’s liquid-manufacturing processes and s.k.u. development,” Mr. Smith said.All Icebox Coffee operations will relocate to Royal Cup’s headquarters by the end of 2018. Royal Cup said it intends to retain all Richgood Gourmet’s full-time employees.