Peet’s Coffee & Tea acquires Stumptown Coffee

Many specialty coffee companies have been growing and playing major effect on the coffee industry. Key players in the industry include La Colombe and Blue Bottle. However, with the recent acquisition by Peet’s Coffee & Tea, this Berkeley-based company is hitting major headlines and expanding beyond their existing sites.

Duane Sorenson founded Stumptown Coffee Roasters in Portland in 1999. It currently has ten stores across America. With the recent acquisition of Stumptown by Peet’s, continue growth is forecasted. Stumptown will be preserved in that they will be operated independently, but will  benefit from Peet’s resources and funds. President at Stumptown, Joth Ricci said “As we look to share Stumptown with even more coffee lovers, Peet’s, the original coffee company, has the expertise and capabilities to help us to continue to grow.”

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