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Nestle USA acquires Chameleon Cold-Brew, diversifying coffee portfolio
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Tuesday, 07 November, 2017, 08 : 00 AM [IST]
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Austin
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Nestlé USA continues to diversify its coffee portfolio with the acquisition of Chameleon Cold-Brew, a leading provider of premium-crafted coffee sourced consciously and grown sustainably.
Founded in 2010, Austin-based Chameleon has become the number one organic cold-brew brand in the United States, and one of the top three refrigerated cold-brew brands in the country.
Its current portfolio consists of multi-serve concentrates and single-serve ready-to-drink (RTD) products, two segments that account for 18 per cent of the $2.5 billion in-home coffee category.
“Chameleon has been extremely fortunate to grow from our hometown base of cold-brew lovers in Austin to a national brand in just a few short years,” said Chris Campbell, co-founder and chief executive officer, Chameleon.
“Partnering with a world-class company like Nestlé will give us the opportunity to do so on a bigger platform,” he added.
“Our shared values around product integrity and commitment to sustainability made Nestlé the best choice to enable Chameleon Cold-Brew to accomplish our goals for the future,” Campbell said.
Chameleon’s products are available in a wide variety of formats - RTD cold-brew, cold-brew concentrate, kegs, cold-brew kits and whole bean coffee. Retailers carrying these products include Whole Foods, Target, Safeway, Albertson’s and Bed, Bath and Beyond, among others.
“We believe the Chameleon brand is perfectly positioned to support Nestlé’s strategy for coffee, which is to have a variety of offerings in terms of format, taste and price points,” said Paul Grimwood, chairman and chief executive officer, Nestlé USA.
“We believe this relationship will benefit both of us, as we expand our access to the emerging cold-brew category while helping Chameleon grow, so that more people can enjoy its delicious, premium-crafted coffee,” he added.
As the world’s largest coffee producer, Nestlé champions responsible coffee sourcing around the world.
Through the Nescafé Plan and the Farmer Connect programme, the company has made a commitment to help secure the future of coffee.
The company is working directly with farmers to ensure they are growing viable, healthy crops, and that coffee farming remains sustainable.
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