Peet’s Coffee has acquired a majority stake in Revive Kombucha, a craft kombucha brewery based in Petaluma, California, for an undisclosed sum.
Revive’s product portfolio includes an extensive range of naturally fermented, organic, non-GMO kombucha drinks, both in ready-to-drink formats and on tap.
The funding raised from Peet’s will help to fuel the growth of the Revive brand, grow its brewery operations and broaden its distribution via the coffee company’s network, while ensuring the high quality of Revive’s products.
Peet’s says it expects to expand Revive’s market reach in on-premise, grocery and Peet’s coffeebar locations, ensuring the growth of the Revive brand and the growth of Peet’s chilled beverage portfolio.
Eric Lauterbach, president of the consumer division at Peet’s Coffee said: “Kombucha is a natural adjacency to ready-to-drink coffee and our consumers tend to love both.
“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, founder and CEO of Revive Kombucha added: “Building an evergreen ecosystem for the Revive brand has always been part of our mission.
“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.”
© FoodBev Media Ltd 2020
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