Nestle Acquires Chameleon Cold Brew To Expand Its Craft Coffee Portfolio
Nestle is jumping headfirst into the craft coffee market this year. Just months after acquiring the popular Blue Bottle Coffee, the food and beverage giant has netted another specialty coffee producer with their new acquisition of Chameleon Cold Brew.
Photo: Nestle
Terms of the deal weren’t disclosed, but a Nestle spokesperson told Bloomberg that they wanted to help Chameleon Cold Brew “grow into new markets and channels.” Currently, Chameleon sells organic cold brew coffee in ready-to-drink bottles, concentrates, whole bean coffees, and other various coffee products. Chameleon CEO Chris Campbell says that the company will retain independence, however, including when it comes to payroll and benefits. Nestle’s deal should help “accelerate what we do,” Campbell said.
Nestle also has another vested interest in their Chameleon acquisition: a spot as top dog in the global packaged coffee business. Nestle currently holds that position, but rival JAB Holdings has recently picked up companies like Keurig Green Mountain and Peet’s in a bid to challenge Nestle’s leadership in the packaged coffee market. Picking up a brand like Chameleon, which has grown 2500% in the last three years, bolsters Nestle’s footing as top dog in that sector.
Nestle does plan to boost Chameleon Cold Brew’s production in the coming months, meaning that you can expect to find it in more stores in the near future. Apart from that, we’ll have to wait and see what this new partnership will bring to both Chameleon and its massive new owner.
