Peet’s Acquires Kombucha RTD
UNITED STATES
Peet’s Coffee has acquired a majority share in Revive Kombucha, a California-based craft brewery that produces the popular ready-to-drink fermented tea.
Terms of the acquisition were not announced. The investment allows Revive to continue to scale its brand nationally, expand its brewery operations and extend its distribution via the coffee company’s existing network.
“Building an evergreen ecosystem for the Revive brand has always been part of our mission,” said Sean Lovett, Revive’s founder and c.e.o. “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.”
Sean Lovett and co-founder Rebekah Lovett will maintain their equity and leadership positions at the company, Peet’s coffee said in a statement.
“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.”