Coffee company get really deep pocket for advertising
Steve’s breakdown: Chameleon Cold-Brew is the company and Nestlé USA just bought them. Expect marketing for the coffee brand to take on a whole new strategy which could include hiring of a grown-up ad agency.
AUSTIN, TX & GLENDALE, CA: Nestlé’s US unit has bought cold-brew coffee producer Chameleon Cold-Brew for an undisclosed sum.
The deal hands Nestlé USA the Austin, Texas-based Chameleon’s portfolio of multi-serve concentrates and single-serve RTD products, two segments that account for 18% of the US$2.5bn in-home coffee category. Nestlé USA said the acquisition will support its strategy for coffee.
“We believe this relationship will benefit both of us as we expand our access to the emerging cold brew category while helping Chameleon grow,” said Paul Grimwood, CEO of Nestlé USA.
Financial details of the deal have not been disclosed.
Chameleon operates in a range coffee formats, including ready-to-drink cold-brew, cold-brew concentrate, kegs, cold brew kits and whole bean coffee. Its products are available in Whole Foods, Target, Safeway, Albertson’s, Bed, Bath and Beyond and other retailers.