Peet’s Coffee & Tea Has Acquired Stumptown

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On the rise.
On the rise. Photo: Matt Dutile

It looks like La Colombe and Blue Bottle aren’t the only craft-coffee companies going mass: Berkeley-based Peet’s Coffee & Tea has acquired ownership of Duane Sorenson’s Stumptown Coffee Roasters, which he founded in Portland in 1999.

Stumptown currently has ten stores across America, but this deal doesn’t necessarily mean it’s going to be the next Starbucks or unleash a line of K-Cups: Stumptown will continue to operate independently, of course benefiting from Peet’s resources and funds.

There will definitely be an uptick in shops, though. As Stumptown president Joth Ricci said, “As we look to share Stumptown with even more coffee lovers, Peet’s, the original craft coffee company, has the expertise and capabilities to help us continue to grow.”

[Business Wire]

Peet’s Coffee & Tea Has Acquired Stumptown