Michael J. de la Merced and Oliver Strand, in the NYTimes:
Under the terms of the deal, Nestlé is acquiring 68 percent of Blue Bottle; the coffee company’s management and employees will own the rest. Neither side would disclose financial terms.
Although Blue Bottle is one of the most important players in the third-wave coffee sector, it has distinguished itself from its rivals in significant ways. It has spurned many of the hallmarks of high-end shops – barista competitions, lengthy travelogues about journeys to find the perfect small coffee farm – while emphasizing the aesthetics and experience of a well-prepared cup.
Blue Bottle has also helped drive trends within the industry, particularly in the case of cold-brew iced coffee.
The company’s approach has fueled enormous growth. Blue Bottle expects to nearly double its store count this year, to 55 outlets from 29. And it has continued to develop ready-to-drink products, as well as an online subscription business for its roasted beans.
How about with this new backing we get some stores in Texas?