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It's turned upside down? Nestl é buys 68% controlling stake in Blue bottle Coffee for $500 million

Published: 2024-11-08 Author: World Gafei

Last Updated: 2024/11/08, The exchange of professional baristas please follow the news on the morning of the 15th Beijing time of the coffee workshop (Wechat official account cafe_style). According to the Financial Times, Nestl é will spend $500m to acquire a 68 per cent stake in Blue Bottle Coffee, a well-known US coffee chain. The deal values Blue bottle Coffee at more than $700 million. Blue bottle Coffee 2002

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Nestle will spend $500 million to acquire a 68% stake in Blue Bottle Coffee, a well-known US coffee chain, the Financial Times reported Monday morning. The deal values Blue Bottle Coffee at more than $700 million.

Blue bottle coffee, founded in oakland, california, in 2002, now has more than 50 outlets and has won over coffee addicts over the past 15 years with funding from morgan stanley, fidelity, True Ventures and U2 frontmen bono, jared leto and tony hawk.

Blue Bottle Coffee said in a joint statement with Nestle that it plans to open 55 new stores by the end of this year. The company currently has stores in the Bay Area, Los Angeles, New York City, Washington, D.C., and Tokyo, Japan.

Starbucks (54.53, 0.24, 0.44%) management has said independent trendy coffee shops are the biggest threat to its business. With Blue Bottle being acquired by deep-pocketed Nestle, the coffee chain is poised to become a major threat to Starbucks.

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