Nestl é Just Announced a Huge Blue Bottle Coffee Deal. What’s That?

Nestlé doubled down on its coffee business Thursday, acquiring a majority stake in high-end coffee brand Blue Bottle Coffee. The Swiss food and drink company is taking 68% of Blue Bottle for about $425 million, according to the Wall Street Journal. Nestlé’s stock is so far even on the deal just before market close on Thursday. Blue Bottle Coffee, based in Oakland, California, has about 40 locations in San Francisco, Los Angeles, New York, Washington, D.C. and Tokyo. But what makes the trendy coffee shop special enough that Nestlé wants in? Here’s what you need to know about Blue Bottle Coffee. What is Blue Bottle Coffee? Started in the early 2000s in Oakland, Blue Bottle Coffee has gained something of a cult following in the independent coffee world. It caters to hardcore coffee fans, with a focus on freshly roasted beans, pour-over preparation and a variety of sourcing options. Blue Bottle Coffee also sells whole bean coffee online, including via subscription packages. The company’s name comes from what it says is Central Europe’s first-ever coffee house in Vienna. Its coffee shops have an airy, minimalist feel, and its logo is a simple silhouette of — you guessed it, a blue bottle. Who is James Freeman, founder of Blue Bottle Coffee? Not only is Blue Bottle’s coffee popular among coveted millennial consumers, but the company’s founder has an artsy backstory that’s sure to appeal to young people, too. Jame...
Source: TIME.com: Top Science and Health Stories - Category: Consumer Health News Authors: Tags: Uncategorized Coffee mergers and acquisitions nestle onetime Source Type: news