Peet's Coffee has announced that it has acquired a majority stake in Revive Kombucha™, a craft brewery based in Petaluma, California. Terms of the transaction were not disclosed.
Revive offers an array of naturally fermented, organic, non-GMO, Fair Trade certified, ethically sourced and raw bottled and on tap Kombucha. It maintains a strong presence in the United States, with a rapid national growth of over 168% percent versus a year ago (52 weeks IRI MULO, 4 November 2018). The latest financing by Peet's will continue to scale the Revive brand, grow its brewery operations and broaden its distribution via the coffee company's network, while assuring absolute product quality and superior taste. "Building an evergreen ecosystem for the Revive brand has always been part of our mission," said Sean J. Lovett, Founder and CEO of Revive Kombucha. "We are excited to further solidify our long-term partnership with Peet's to fulfill our greater purpose of bringing our super tasty and good-for-you beverages to a larger audience."
Peet's expects to expand the Revive market reach in on-premise, grocery and Peet's coffeebar locations. The inherent match of delivering Revive across consumer facing Peet's channels will strengthen and accelerate the growth of its pioneering chilled beverage portfolio.
"Kombucha is a natural adjacency to ready-to-drink coffee and our consumers tend to love both," said Eric Lauterbach, President of the Consumer Division at Peet's Coffee. "Adapting our growth strategy to extend access and trial of superior beverage choices across channels in new and convenient locations is key. And knowing the ongoing consumer shift to better for you and functional beverages, our latest long-term investment in Revive reflects our belief in the future growth of the brand."
Sean J. Lovett and Rebekah Lovett, co-founder, will maintain their equity and leadership positions at the company, while also maintaining the brand's innovative approach to batch brewing and natural fermentation methods.
Source: Peet's Coffee