Nestle announced its second small coffee acquisition in as many months on Friday, buying Texas-based Chameleon Cold-Brew as it seeks to bolster its world-leading coffee business.
The maker of Nescafe and Nespresso said Chameleon is the No.1 organic cold-brew brand in the United States.
Nestle, which took a majority stake in Blue Bottle Coffee in September, is trying to reignite slowing sales by snapping up small independent brands that appeal to younger consumers.
Packaged food rivals across the sector, from Campbell Soup (CPB.N) to Unilever (ULVR.L), are taking similar steps as health-conscious and brand-savvy shoppers shun traditional big brands while social media helps start-ups to grow faster.
Nestle, owner of the world’s largest packaged coffee business, also faces a specific threat from JAB Holding, a private investment company that has grown fast through a string of coffee deals in recent years, from mainstream players such as Douwe Egberts and Keurig to higher-end artisanal brands Stumptown and Intelligentsia.
Speculation that JAB could acquire Dunkin Brands (DNKN.O) resurfaced this week, sending shares of that coffee and doughnut chain operator to record highs.
Following criticism for being too slow to react to consumers’ changing habits, Nestle is taking steps to improve its performance under new CEO Mark Schneider.
It had identified coffee as a key growth area.
Nestle did not disclose the price it paid for Chameleon, which sells a range of refrigerated ready-to-drink bottled coffees as well as concentrated cold brews that can be diluted, cold-brew kits and whole bean coffee.
By Martinne Geller
Source: Reuters
Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.
The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.
The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.
