investment Archives - Tea & Coffee Trade Journal https://www.teaandcoffee.net/topic/investment/ Thu, 11 Jan 2024 09:50:51 +0000 en-GB hourly 1 Nestlé invests to increase productivity in Vietnam https://www.teaandcoffee.net/news/33503/nestle-invests-to-increase-productivity-in-vietnam/ https://www.teaandcoffee.net/news/33503/nestle-invests-to-increase-productivity-in-vietnam/#respond Thu, 11 Jan 2024 09:50:51 +0000 https://www.teaandcoffee.net/?post_type=news&p=33503 Nestlé Vietnam has announced a USD 100 million investment to increase production capacity of its Tri An coffee factory, located in the southern province of Đồng Nai.

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Nestlé Vietnam has announced a USD 100 million investment to increase production capacity of its Tri An coffee factory, located in the southern province of Đồng Nai. This will help the company meet growing local and international consumer demand for high-quality coffee.

The Nestlé Tri An factory currently exports coffee products from iconic brands, such as Nescafé, Nescafé Dolce Gusto and Starbucks, to more than 29 countries all over the world. Nestlé has invested more than USD 500 million in this facility since 2011.

Vietnam is currently the world’s second largest producer and exporter of coffee and an important coffee origin for Nestlé. The company is the largest coffee buyer in the country, with annual purchases reaching up to USD 700 million.

The Nescafé Plan, Nestlé’s sustainability programme for the brand, was implemented in Vietnam in the Central Highlands in 2011. It is a cornerstone of the sustainable development of coffee in the region. It supports farmers transitioning to sustainable farming methods, helps rejuvenate coffee plots through the distribution of high-quality coffee plantlets, and protects water resources and biodiversity.

Nestlé currently operates six factories in Vietnam, focusing on the production of coffee, cocoa malt beverages, cooking aids and water. The company has been present in the country for nearly three decades and currently employs around 3,000 employees.

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Redemption Roasters embarks on new investment round https://www.teaandcoffee.net/news/33375/redemption-roasters-embarks-on-new-investment-round/ https://www.teaandcoffee.net/news/33375/redemption-roasters-embarks-on-new-investment-round/#respond Thu, 14 Dec 2023 10:40:09 +0000 https://www.teaandcoffee.net/?post_type=news&p=33375 Redemption Roasters, the UK-based purpose-led speciality coffee company, is set to treble revenues over the next three years.

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Redemption Roasters, the UK-based purpose-led speciality coffee company, is set to treble revenues over the next three years as it embarks on a new investment round to help drive expansion in London and across the UK. The company is about to open its 11th retail premises in London and it also supplies its premium brand coffee to more than 200 wholesale customers, including KPMG, Meta and Amazon.

Launched in 2017, Redemption Roasters has recorded a 78% rise in monthly sales growth since 2019 and is currently on target to generate £8.1m in sales in the last 12 months with annual revenues forecast to exceed £25m by 2026.

With the UK branded coffee shop market valued at nearly £5bn per year and research showing London’s market for independent coffee retailers has capacity for major growth compared to other international cities, Redemption Roasters is planning to open a further 17 shops in the capital and other parts of the UK by 2026. The company is also developing a new app to boost B2C revenues by an estimated 15% and is focused on further expanding its wholesale customer base.

Redemption Roasters’ business is built around a strong social commitment. The company’s partnership with the UK Ministry of Justice provides retraining programmes aimed at reducing reoffending rates amongst prison leavers. 20% of Redemption Roasters’ current retail staff are either prison leavers or individuals deemed to be at risk of offending.

The company also operates a roastery inside HMP The Mount where resident ‘trainees’ benefit from spending extended periods out of their cells working in a positive environment alongside Redemption Roasters’ team. The company also provides coffee training inside and outside of prison with direct pathways to long-term employment. Through 14 partnerships with UK prisons to date, over 1,500 individuals have taken part in these programmes, with participant reoffending rates sitting well below half the national average.

As well as paying an average of 120% more than the Fairtrade price to their bean suppliers, Redemption Roasters is also committed to social initiatives including supporting female farmers in Brazil and helping former civil war combatants in Colombia to retrain as coffee producers. It has also funded a new cupping lab to help an indigenous tribe in Burundi enhance the quality of its coffee.

The company was founded by Max Dubiel and Ted Rosner, who met while attending St Andrews University. Prior to launching Redemption Roasters, Max worked as a strategy consultant with large consumer brands and was also a founder of Black Sheep Coffee, the UK’s fastest growing independent coffee chain. Ted, who qualified as a solicitor, worked with Wall Street firm Debevoise & Plimpton as a corporate specialist handling M&A deals.

The company’s executive team includes chairman Jonathan Heilbron, an experienced and successful brand innovator who was former CEO at shirtmaker, Thomas Pink, and is now a partner at premium consumer fund, Redrice Ventures.

To help drive its growth strategy and support further development of its social aims, Redemption Roasters has now launched a £1.2m investment round, which includes a crowdfunding campaign on CrowdcubeFurther details can be found here. 

The majority of the proceeds of the investment round will go towards financing the opening of new outlets.

Commenting on the investment round, Redemption Roasters founder, Max Dubiel, said: “As a purpose-driven business that has achieved phenomenal growth, we are very excited about this next chapter in our journey. This current investment round includes a crowdfund, enabling those who share our ethos to join us on our journey.

“The proceeds will drive further growth of our brand and help us achieve even greater profitability through scale. This will also enable the business to do more to help prison leavers and further deliver on our wider social ambitions to support coffee producers throughout the world.”

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Browns completes acquisition of James Finlay Kenya https://www.teaandcoffee.net/news/33292/browns-completes-acquisition-of-james-finlay-kenya/ https://www.teaandcoffee.net/news/33292/browns-completes-acquisition-of-james-finlay-kenya/#respond Tue, 28 Nov 2023 10:19:33 +0000 https://www.teaandcoffee.net/?post_type=news&p=33292 Browns Investments PLC has announced the completion of its acquisition of Kenyan tea estates business, James Finlay Kenya, from Finlays.

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Browns Investments PLC has announced the completion of its acquisition of Kenyan tea estates business, James Finlay Kenya, from Finlays.

The sale was first announced in May 2023, with Finlays selecting Browns Investments PLC as the approved buyer based on its strong legacy of guiding its tea estates to continued growth, but also its focus on doing so sustainably while supporting its workforce and local communities.

James Finlay Kenya is a grower, manufacturer and supplier of Kenyan tea. It covers a total self-contained area of 10,300 hectares, including 5,200 hectares of tea fields over nine tea estates. The sale includes all parts of James Finlay Kenya Ltd except the Saosa tea extraction facility which will remain under Finlays’ ownership and will become known as ‘Finlays Extracts, Kenya’.

Headquartered in Colombo, Browns has a proud heritage in operating plantation businesses, owning Maturata Plantations, Hapugastenne Plantations PLC, and Udapussellawa Plantations PLC. It is one of the largest tea producing companies in Sri Lanka consisting of 49 individual estates that stretch across an area of over 30,000 hectares and employs over 10,000 individuals.

As part of the sale agreement, Browns and Finlays have mutually agreed to acknowledge the long-standing support of the local community by offering 15% of shares in James Finlay Kenya for public sale through the Kipsigis Highlands Multipurpose Cooperative Society.

James Finlay Kenya, which will become known as ‘Browns Plantations Kenya’ in due course, is Brown’s first investment in the Kenyan tea industry which it sees as an exciting opportunity for growth. In December 2021, Browns acquired Finlays’ Sri Lankan tea estates business, which has gone from strength to strength, demonstrating Browns’ successful commitment to sustainable growth.

Finlays has a long history in Kenya and is continuing to invest in the country through its continued ownership of the Saosa tea extracts facility, and its Kenyan tea sourcing and packing operation James Finlay Mombasa. Saosa manufacturers a range of tea extracts and aromas, adding significant value to the Kenyan economy.

Kamantha Amarasekera, CEO of Browns Investments PLC said: “We’re delighted to welcome all members of the James Finlay Kenya community into the Browns family. It’s an amazing business, powered by an incredible community, and superb growth potential which will not just benefit the community, but the Kenyan economy at large.”

James Woodrow, group managing director of Finlays said: “James Finlay Kenya has played an enormous role in Finlays’ success story over the years. In Browns Investments, the JFK community has a conscientious new investor with a bright and exciting vision. We will always have a very close relationship with ‘Browns Plantations Kenya’, and we continue to invest in Kenya through both Saosa, our tea extraction facility, and through James Finlay Mombasa. While this is the end of an era, we’re delighted that 15% of shares in James Finlay Kenya will be owned by members of the local community.”

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Origin Coffee announces £3.1 million investment https://www.teaandcoffee.net/news/33049/origin-coffee-announces-3-1-million-investment/ https://www.teaandcoffee.net/news/33049/origin-coffee-announces-3-1-million-investment/#respond Wed, 18 Oct 2023 08:00:55 +0000 https://www.teaandcoffee.net/?post_type=news&p=33049 B Corp specialty coffee roasters, Origin Coffee, has announced a GBP £3.1 million investment to support the growth of the business whilst continuing its commitment to improving sustainability within the industry.

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B Corp specialty coffee roasters, Origin Coffee, has announced a GBP £3.1 million investment to support the growth of the business whilst continuing its commitment to improving sustainability within the industry. With a significant focus on digital activity, retail and wholesale areas of the business will also benefit.

This investment supports and ensures manageable growth of Origin Coffee’s D2C, retail rollout, and expansion of the wholesale channel. As part of the four-year plan, Origin Coffee intends to remain committed to ethical sourcing by increasing direct Green Coffee purchases from farmers by 77%. Closer to home, employment is set to increase with new opportunities across the team including Head Office.

Majority owner and CEO, Tom Sobey said, ‘We take our commitment to sustainability and transparency seriously. The foundation of our business will remain ethical as we grow, and our efforts from the last couple of decades won’t dwindle. Securing investment like this offers us the flexibility and opportunity to take the company forward. We know this is a big step for Origin Coffee and understand that with this growth comes considerable responsibility to our partners, employees, and the wider industry. We’re so excited to grow together with our new partners, as well as our long-time friends and supporters.’

By taking on this investment, the business will sell part of the ownership for the very first time. Sobey will stay as majority shareholder as he retains the most significant portion of ownership and will remain in charge, but be supported by his new partners, which include Create Impact Ventures, Yeo Valley, and The Cornwall & Isle of Scilly Investment Fund (CIOSIF). Tracy Doree of Freddie’s Flowers, Farewill, and Oddbox will join the Origin board as independent chair and non-executive director, and David Bernstein, former chairman of Manchester City and the Football Association, will also join the Origin Coffee board as non-executive director.

David Bernstein said “We are thrilled to invest in Origin Coffee, a dynamic player in the growing specialty coffee market. We believe in providing support to transform growth-stage businesses into market leaders, and we’re excited to join Origin on its journey to expand nationwide while preserving its impressive culture and specialist market position. Its direct trade partnerships, Queen’s Award, and B Corp certification demonstrate its dedication to responsible business practices. Together with Tom, we aim to promote sustainability and create employment opportunities in Cornwall and beyond, fostering both growth and impact.”

Meg Salt, FSE investment manager at CIOSIF, said: “We are excited to be adding this thriving Cornish business, with sustainability at its core, to our CIOSIF portfolio. Our funding will support Origin’s growth as the team looks to expand across the country whilst also continuing to boost employment close to home in Cornwall. Our funding will support growth in their retail and online presence, bringing ethically sourced, specialty coffees from around the world to customers. We look forward to continuing to work with them as the business grows.”

As 2024 marks two decades in business, sustainability, quality, and integrity continue to be fundamental to Origin Coffee’s approach, particularly as it expands.

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Solo Coffee receives investment from Kliro Capital Partners https://www.teaandcoffee.net/news/32858/solo-coffee-receives-investment-from-kliro-capital-partners/ https://www.teaandcoffee.net/news/32858/solo-coffee-receives-investment-from-kliro-capital-partners/#respond Mon, 25 Sep 2023 14:34:14 +0000 https://www.teaandcoffee.net/?post_type=news&p=32858 Kliro Capital Partners has made a minority investment in UK RTD coffee company, Solo Coffee Limited, which sells in over 2,000 outlets across the UK, as well as being available on Amazon and Ocado.

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Kliro Capital Partners has made a minority investment in Solo Coffee Limited (“Solo Coffee”).

Solo Coffee is a ready-to-drink (RTD) coffee company that supplies many of the UK’s major hospitality groups, selling in over 2,000 outlets across the UK, as well as being available on Amazon and Ocado.

After years of working in specialty coffee and winning a UK national barista award, founders Theo Garcia and Alex Foss Sims decided to apply their expertise to create a finished product which would be readily available to all lovers of good coffee. Solo Coffee Concentrate is barista quality, ready-to-serve, espresso strength coffee which can be used for all coffee serves. This ready-to-drink coffee is most frequently used as a base for espresso martinis, iced lattes, and cold brew coffee drinks enabling customers such as bars, restaurants and hotels to consistently offer coffee-based cocktails of high quality on a cost-effective basis.

Funds raised by Solo Coffee will be used to support the company’s entry and expansion into the US hospitality industry. The company is in discussion with some of the largest state distributors and restaurant chains in the US and has already been contracted to supply the Hollywood actor, Millie Bobby Brown’s, coffee brand “Florence by Mills.”

Warren Scott, founder of Kliro Capital Partners, said, “We are delighted to have invested in Solo Coffee. Solo is a young dynamic business led by Theo and Alex who have an extraordinary passion for coffee. Their mission is simple, to make great quality barista coffee available to all. Kliro Capital Partners is committed to the pursuit of excellence in the drinks industry, and this is a further step in our strategy to support entrepreneurial businesses looking to shape their industries.”

Theo Garcia, co-founder of Solo Coffee, said “We are extremely excited to have Kliro Capital Partners joining the Solo Coffee team. From the first conversation we had with Warren and the team, I knew that they could be the perfect partner to support our business. With years of relevant experience, we felt that we had found the optimal fit. Although we are at the start of our relationship, I have no doubt that Kliro will add tremendous value to the business. Finding an investor has been difficult for us as we believe a partner should ideally be able to support in multiple ways, not just financial. Fortunately, Kliro Capital Partners are able to offer value in many different areas.”

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Eight GCP members raise $1.5 million in first funding round https://www.teaandcoffee.net/news/32282/eight-gcp-members-raise-1-5-million-in-first-funding-round/ https://www.teaandcoffee.net/news/32282/eight-gcp-members-raise-1-5-million-in-first-funding-round/#respond Wed, 28 Jun 2023 09:54:45 +0000 https://www.teaandcoffee.net/?post_type=news&p=32282 The Global Coffee Platform (GCP) has announced that eight of its leading members have championed the launch of a new era of collective action in coffee sustainability.

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The Global Coffee Platform (GCP) has announced that eight of its leading members have championed the launch of a new era of collective action in coffee sustainability. The combined contribution of more than $1.5 million marks the first milestone of the organisation’s development into “GCP 2.0”, an effort to significantly advance coffee smallholders’ sustainability and prosperity.

“This targeted co-funding by our membership kick-starts our work, catalysing transformational change around living income, climate adaptation and sustainability for over one million coffee farmers around the world,” announced GCP executive director, Annette Pensel. “Today, we celebrate the commitment of JDE Peet’s, Melitta Group, Mother Parkers’ Coffee & Tea, Nescafé, Nespresso, ofi (olam food ingredients), Rabobank and Westrock Coffee Company. These companies are taking collective action to the next level to propel coffee sustainability.”

GCP 2.0’s farmer-centric approach entails focused local collective actions in coffee producing countries together with local stakeholders, complemented with a global drive to increase sustainable sourcing.

Sharing responsibility

Despite many years of efforts and certain sustainability advancements, the sector is still facing profound challenges to sustainability. More than half of coffee farmers around the globe are challenged by poverty, and coffee supply is threatened by climate change and increasing regulatory requirements.

“To unlock coffee’s potential as both an engine of socio-economic growth and nature-based solution to climate change, we urgently need transformational change with strategic action and bold investments within supply chains and, importantly, beyond it. Durable change comes only with focused solutions that are owned by coffee growers themselves, supported by public, private and NGO partners.”

Collective action locally and globally

“GCP has demonstrated that change beyond supply chains is possible when GCP Member companies work with our NGO and government partners through collective action,” says GCP board chair, Carlos Brando. “This pre-competitive collaboration is crucial to generating adequate level of investment and change. No one company can be effective by itself. Collective action is essential to not just ensuring compliance but also accelerating measurable sustainability at scale.

“We are grateful that these GCP Members have stepped forward with this initial round of co-funding. This will lay the groundwork to bring ambitious solutions to over one million coffee smallholders.”

The combined $1.5 million investment enables GCP to grow, attracting new talent and further revenue, including public co-funding that is key to accelerate the first six entrepreneurial country programmes to investment-ready levels and support the development of aligned measurement in the form of GCP Country Reports.

“While achieving transformational change on farmers prosperity for one million coffee farmers seems like an ambitious goal, today marks an exciting first milestone for GCP and an indication that we can transform the industry together,” said Pensel.

For more information click here.

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Matthew Algie announces investment in company growth and sustainability https://www.teaandcoffee.net/news/32016/matthew-algie-announces-investment-in-company-growth-and-sustainability/ https://www.teaandcoffee.net/news/32016/matthew-algie-announces-investment-in-company-growth-and-sustainability/#respond Thu, 25 May 2023 09:56:39 +0000 https://www.teaandcoffee.net/?post_type=news&p=32016 Glasgow-based coffee roaster, Matthew Algie, has made a multi-million-pound investment at its production headquarters.  

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Glasgow-based coffee roaster, Matthew Algie, has made a multi-million-pound investment at its production headquarters.  

Established over 150 years ago, Matthew Algie has grown in recent years and with this investment programme, it will allow the firm to roast over 2,500 tonnes of coffee each year for its customers. 

The investment project will include the introduction of a new green bean handling and blending system, upgraded automation, new conveying systems, and state of the art packaging lines. 

In addition to the operational improvements, the investment will support the firms’ new sustainability strategy which will see the entire business become net zero by 2035 with its entire business operations, including supply chain, hitting the target by 2040. 

A new green storage area will enable hessian sacks to be replaced with larger 1 tonne transportation bags that will deliver a 90% manual handling reduction, as well as increased coffee container capacity. Shipping coffee in bulk containers from coffee producing countries to UK ports will increase capacity by 11%, and onward delivery to the Glasgow site will see a 25% capacity increase which will reduce costs and carbon emissions. 

Paul Chadderton, managing director, Matthew Algie said: “Matthew Algie has been an employer in Glasgow for over 150 years and our history of producing and distributing the best quality beverages is world renowned.  

“This recent round of investment builds additional capacity and will future proof the business to offer even more products to its customers.”  

The Glasgow roastery is already carbon neutral, but the firm recently launched its Net Zero Roadmap which details the investment and improvement programmes across the entire business in order to become net zero. 

Paul continued: “Equally important however is how these improvements will help supercharge our efforts to reach net zero, as by 2035 our operations in the UK and Ireland will be carbon neutral or better, with our entire value supply chain net zero by 2040. 

“This is a hugely exciting time for our business and particularly our Glasgow roastery as we look to continue on our growth trajectory whilst being the leading supplier of sustainable, high-quality beverages in the UK and Ireland.”  

Matthew Algie’s investment project has been enabled by support from by Scottish Enterprise, Scotland’s national economic development agency. 

Rhona Allison, managing director of business growth at Scottish Enterprise, said: “Matthew Algie’s products are enjoyed by consumers across Scotland, the wider UK and Ireland. 

“This innovative project will enhance the company’s productivity and manufacturing capability whilst also reducing its carbon emissions, delivering 38 new jobs and safeguarding many existing roles in the process. Scottish Enterprise is delighted to support Matthew Algie’s growth, investment and ambition to significantly increase their productivity.” 

The investment work will be carried out around ongoing production and will be completed in Autumn 2023. 

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Suki Tea invests in purpose-built Lisburn facility https://www.teaandcoffee.net/news/31660/suki-tea-invests-in-purpose-built-lisburn-facility/ https://www.teaandcoffee.net/news/31660/suki-tea-invests-in-purpose-built-lisburn-facility/#respond Wed, 05 Apr 2023 08:00:58 +0000 https://www.teaandcoffee.net/?post_type=news&p=31660 Northern Ireland tea maker, Suki Tea, has made a £500,000 investment into a new headquarters and factory in Lisburn.

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Northern Ireland tea maker, Suki Tea, has made a £500,000 investment into a new headquarters and factory in Lisburn.

The purpose-built Tea Factory has allowed the company to double its manufacturing and warehousing capacity, bolstering distribution and allowing for expansion into 30 countries worldwide.

Built in collaboration with a team of sustainability and heating specialists from Invest Northern Ireland, the facility is powered by 100% renewable energy sources.

Co-founder, Annie Irwin, said: “In 2019, we set ourselves a number of environmental targets and we’re thrilled to say that moving to our new Tea Factory this spring has brought us another step closer to achieving these by eliminating our Scope 2 emissions seven years ahead of schedule.

“The new move is an important step in our commitment to sustainability and the environment, and we are proud to be leading the way in the tea industry.”

With the new factory opening, the business expects to increase its production capacity by more than 600% over the next decade.

As part of the investment, Suki Tea has also offered employees additional specialised training and development opportunities.

Co-founder, Oscar Woolley, added: “As we celebrate our 18th year in business, this new premises is a fantastic opportunity for Suki to continue to grow. Moving from three business units to one purpose-built factory allows us to make our production processes and logistics more efficient, expand our product offering and create new jobs.

“Our mission has always been to create a community of loose-leaf tea drinkers across the globe, and we’re pleased that with continued investment into our facilities, our equipment, and our team, we can remain at the forefront of the loose-leaf tea industry in the UK, Ireland and around the world.”

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Waka Coffee & Tea secures US$725,000 investment from industry investors https://www.teaandcoffee.net/news/28905/waka-coffee-tea-secures-us725000-investment-from-industry-investors/ https://www.teaandcoffee.net/news/28905/waka-coffee-tea-secures-us725000-investment-from-industry-investors/#respond Thu, 17 Feb 2022 15:01:27 +0000 https://www.teaandcoffee.net/?post_type=news&p=28905 Waka Coffee & Tea has closed a US$725,000 pre-seed round from industry veterans and strategic investors.

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Waka Coffee & Tea, an emerging instant coffee and tea company, closed a US$725,000 pre-seed round from industry veterans and strategic investors to accelerate its growth and innovation in the multibillion-dollar categories. With strong sales and customer response to date, the brand is launching three new products as well as refreshing its design and packaging. This first round of outside investment will allow Waka to introduce more new products, build its team, and expand into new sales channels.

Founded in late 2018 by entrepreneur David Kovalevski, Waka is on a mission to place its mark on the instant coffee and tea categories through better quality products, more eco-friendly packaging, and improved flavours. The company has become one of the most recognised newcomers in the instant coffee and instant tea categories and one of the categories’ best sellers on Amazon, according to the company. In addition, the brand recently expanded into physical retail with Central Market in Texas and launched internationally with iHerb.

“While instant coffee remains very popular around the world, most consumers in the U.S. have only interacted with legacy brands in the space that often pale in comparison to large specialty and premium coffee retailers. This presents an incredible opportunity for Waka to create a strong connection with consumers who are looking for a viable option in the instant coffee and tea categories, and we are already seeing massive spikes in interest and adoption for home, office, and on-the-go,” said founder David Kovalevski. “Preferences are shifting as new and younger demographics try instant coffee and tea products for the first time due to viral social media trends like whipped coffee and loaded teas, both of which use either instant coffee or instant tea. We are inspired by the potential application of our products and are encouraged by our consumer survey findings showing a willingness to try Waka instant products vs. more traditional brands.”

Several CPG veterans and marketing leaders participated in the pre-seed round, including former Starbucks and PepsiCo executives, Joe Canterbury and Craig Musgrove, who both joined Waka as board advisors, as well as Bee Cave Capital, Chaucer Global, Scott Jensen (founder and CEO at Rhythm Superfoods), Mark Turner (CEO at HeatGen), Steven Kalifowitz (chief marketing officer at Crypto.com), and Sunil Desai (head of global brand marketing at Shopify).

“Coming from one of the biggest coffee companies in the world, I believe Waka has all the right ingredients and momentum to become one of the leaders in the instant space. I couldn’t be more excited to support them on their journey,” added Canterbury.

In addition to its fundraise, Waka is releasing three new instant coffee roasts and origins: Ethiopian Dark Roast, Ethiopian Light Roast and Papua New Guinean Medium Roast. All products will have single-serve and bulk bag options and will become available to order across all of Waka’s online sales channels by the end of March.

Waka is also unveiling new brand identity and packaging. “Our new design is playful, simple and approachable – just like the brand we are building,” concluded Kovalevski.

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Nicaraguan coffee smallholders to benefit from investment in Aldea Global https://www.teaandcoffee.net/news/28380/nicaraguan-coffee-smallholders-to-benefit-from-investment-in-aldea-global/ https://www.teaandcoffee.net/news/28380/nicaraguan-coffee-smallholders-to-benefit-from-investment-in-aldea-global/#respond Wed, 01 Dec 2021 12:43:25 +0000 https://www.teaandcoffee.net/?post_type=news&p=28380 IDH Farmfit Fund and Oikocredit are providing a syndicated loan to Asociación Aldea Global Jinotega, a Nicaraguan small farmers’ association that produces and exports speciality fair trade and organic coffee.

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IDH Farmfit Fund and Oikocredit are providing a syndicated USD$ 3.2 million loan to Asociación Aldea Global Jinotega, a Nicaraguan small farmers’ association that produces and exports speciality fair trade and organic coffee from its members to Asia, Europe and the US.

Aldea Global will use the joint eight-year loan to construct and equip its new dry coffee mill with cutting edge technology, resulting in better coffee quality and productivity and an increase in incomes for 6,200 of Aldea’s farmers. The first phase of the project will focus on installation of the new dry mill, which will enable the association to increase its processing capacity while storing coffee in temperature controlled silos. In the second phase, a new wet mill technology will be installed to reduce water consumption, increase processing capacity and integrate management of the coffee processing chain from cherries to green coffee beans for export. This represents a paradigm shift for smallholder producers in Nicaragua, who traditionally undertake wet milling on their farms.

Founded in 1992, Aldea Global supports its coffee farmer members with access to markets, affordable finance, technical assistance in areas such as agroforestry for coffee through its mobile app Aldea Tech. Using technology and modern approaches to coffee production and processing, Aldea Global continues to support small producers to be more competitive in the market and to increase their earnings. The association also has a strong gender focus.

Warren Armstrong, chief executive officer of Aldea Global, said: “This joint investment from Oikocredit and IDH is truly welcome. The new state-of-the-art specialty coffee dry mill will increase milling yields and cupping quality and result in higher premiums for our fair trade members. The second stage wet mill will reduce environmental contamination from more than 4,000 small farmers’ wet mills located near streams by bringing their coffee cherries to process at Aldea Global. And process automation will highlight Nicaraguan coffee’s premium quality flavours: floral, citrus and dark chocolate.”

Miguel Tamayo Maertens, IDH Farmfit Fund’s investment director, said: “We are very pleased with the partnership with Oikocredit. With this co-investment project, we aim to strengthen Aldea Global’s positioning in the specialty coffee sector and support the association in providing additional value to its smallholder coffee farmer members. This will lead to improved coffee quality, increase farmer incomes and positively impact their lives.”

Jose Augusto Cordón, Oikocredit’s senior investment officer, said: “We are very glad to strengthen our support for Aldea Global, an Oikocredit partner since 2007, with this new long-term investment. The benefits for the smallholders are clear, with improvements in efficiency and quality translated into better incomes and higher environmental standards. In addition, our first collaboration in Latin America with IDH Farmfit Fund has been an excellent experience, and we hope to continue strengthening our cooperation with them.”

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BKON secures $3 million investment led by GoodWest Industries https://www.teaandcoffee.net/news/26096/bkon-secures-3-million-investment-led-by-goodwest-industries/ https://www.teaandcoffee.net/news/26096/bkon-secures-3-million-investment-led-by-goodwest-industries/#comments Thu, 07 Jan 2021 14:00:14 +0000 https://www.teaandcoffee.net/?post_type=news&p=26096 BKON, the inventor of the RAIN (Reverse Atmospheric Infusion) brewing process, has secured significant investment led by GoodWest Industries, a national aseptic beverage packaging company based in Douglasville, PA.

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BKON, creator of the transformative extraction process called RAIN (Reverse Atmospheric Infusion) has secured a USD$3 million Series-A investment led by GoodWest Industries, a national aseptic beverage packaging company based in Douglasville, PA.

“The industry demand for RAIN brewed cold coffee has grown significantly this year as a result of our shelf-stable breakthrough,” said Dean Vastardis, CEO and co-founder of BKON. “With this investment, BKON is expanding its production capacity and enhancing its extraction capabilities so brands can commercialise higher strength coffee concentrates with RAIN’s proprietary flavour advantages.”

The next generation of BKON’s industrial Storm brewing system will quadruple the output of its facility and extend BKON’s licensing business for international expansion. Increased concentration levels will come with the benefit of precise and consistent flavour experiences when diluted. In addition, the Storm-XL will enable the commercialisation of Coldstretto as a means for innovating cold espresso drinks and cold ristretto consumer products.

Awarded 25 patents, BKON’s RAIN innovation has transformed the flavour quality and scalability of cold coffee beverages. Originally a basement start-up, BKON is now helping a growing number of America’s leading coffee brands innovate their cold coffee business from its New Jersey production facility and headquarters.

Image courtesy of BKON

Comprising over $25 billion in annual sales, cold coffee is the most consumed natural refreshment beverage and the largest functional beverage in America. Yet, while cold coffee’s +7% compounded annual growth rate is expected to continue, factors are obstructing a greater potential.

“The quality limitations of shelf stable coffee have forced roasters to either compromise flavour or surrender to the constraints and added costs of refrigerated supply chains,” said Lou Vastardis, BKON co-founder and chief of Sales & Marketing. “BKON’s innovation leap eliminates these obstacles, so brands can scale cold coffee as successfully as they have their whole and ground bean business.”

Despite the Covid disruption, BKON grew its cold coffee brewing business by 300% in 2020 with 16 regional and national specialty coffee brands, including Allegro Coffee, a subsidiary of Whole Foods Market.

“In all my years of experience, I have never witnessed a company execute its commercialisation plans with the vigor and win record like BKON,” said Rick Lawlor, executive chairman of GoodWest Industries. “GoodWest was eager to lead this investment in order to accelerate BKON’s continued growth.”

As a new addition to BKON’s Board of Directors, Mr Lawler brings a deep understanding of manufacturing and a track record in growing successful enterprises. Prior to his executive chairman appointment, Mr Lawlor served as GoodWest’s chief executive officer where he led significant revenue growth over the past four years.

“BKON’s recent growth reflects the industry’s recognition that the market is in need of cold coffee innovation,” said Dean Vastardis. “Seeing this opportunity and witnessing our growth trajectory, GoodWest and our investor base are accelerating their support for BKON’s visionary beverage category aspirations.”

For more information about BKON, visit: www.bkonbrew.com.

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Nespresso invests CHF 160 million in expansion of production centre in Switzerland https://www.teaandcoffee.net/news/24891/nespresso-invests-chf-160-million-in-expansion-of-production-centre-in-switzerland/ https://www.teaandcoffee.net/news/24891/nespresso-invests-chf-160-million-in-expansion-of-production-centre-in-switzerland/#respond Thu, 09 Jul 2020 09:00:51 +0000 https://www.teaandcoffee.net/?post_type=news&p=24891 Nespresso has invested in its Romont production centre to meet increasing consumer demand for its high-quality premium coffees and to support international development in the coming years.

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Nespresso has announced a CHF 160 million investment to expand its Romont production centre in Switzerland, to meet increasing consumer demand for its high-quality premium coffees and support international development in the coming years.

“Despite the challenging times we have all been living in, this strategic long term investment reconfirms Nespresso‘s continuous business success and leadership in the portioned coffee segment, which we pioneered back in 1986,” said Guillaume Le Cunff, CEO of Nespresso. “It also demonstrates our continued commitment to our Swiss roots and to the long term economic development of the region and the country, with which we share values of quality, innovation and expertise.”

These are the kind of announcements that feel good in times of crisis. Nespresso confirms that large international groups can produce competitively in our region. It’s also an investment that strengthens our region in the bio-economy field with which I’m very pleased,” said Olivier Curty, state councillor and director of Economic Affairs and Employment at the Canton of Fribourg.

The construction of the second production hall is set to start in June 2021. It will result in an augmented capacity of 10 new production lines dedicated to producing Nespresso coffees for the Vertuo and Professional ranges, as well as the creation of 300 new direct jobs in the next 10 years while increasing third party employment and local and regional business development. The first new production lines are expected to be fully operational by June 2022.

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Starbucks investment in Coffee Innovation Park drives sustainable manufacturing in China https://www.teaandcoffee.net/news/24014/starbucks-investment-in-coffee-innovation-park-drives-sustainable-manufacturing-in-china/ https://www.teaandcoffee.net/news/24014/starbucks-investment-in-coffee-innovation-park-drives-sustainable-manufacturing-in-china/#respond Mon, 23 Mar 2020 15:48:41 +0000 https://www.teaandcoffee.net/?post_type=news&p=24014 As Starbucks' largest manufacturing investment outside of the US and its first in Asia, the new Coffee Innovation Plant will incorporate a roasting plant, warehouse and distribution center, creating highly-skilled jobs and new career opportunities that will further drive smart and sustainable coffee manufacturing in China.

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Starbucks Coffee Company has announced it will invest approximately US$130 million in China to open a state-of-the-art roasting facility in 2022 as part of its new Coffee Innovation Park (CIP).

As Starbucks’ largest manufacturing investment outside of the US and its first in Asia, the CIP will incorporate a roasting plant, warehouse and distribution center, creating highly-skilled jobs and new career opportunities that will further drive smart and sustainable coffee manufacturing in China. The plant will serve as a key component of the company’s global roasting network and the bold infrastructure investment further deepens Starbucks multi-decade commitment to strengthen the specialty coffee industry in China, where it aims to have 6,000 stores by 2022.

“Starbucks has spent the past 20 years sharing its passion for coffee across China and helping to build a leading industry that makes us all proud. The roasting facilities at the Coffee Innovation Park will set a blueprint for the future of coffee roasting and supply chain management, and further elevate China’s coffee industry, while supporting Starbucks growth in China, with China,” said Belinda Wong, chairman and chief executive officer, Starbucks China.

“Starbucks has always taken a long-term view in China and our commitment to the market has never been stronger.”

Building on Starbucks’ sustainability announcement in January, the CIP will incorporate advancements in sustainable manufacturing, smart supply chain innovation and technology to support the aspiration to deliver the most energy- and water-efficient roasting operations for Starbucks in the world, while minimizing waste. The new roasting plant facility will be designed with the intent to apply for US Green Building Council LEED Platinum certification, as well as China’s Three Star Green Building standards.

“We recently announced a bold multi-decade aspiration to become a planet positive company. A company that gives more than we take from the planet. China is one of our most important markets and The Coffee Innovation Park is an important, strategic investment that has a positive impact on our carbon footprint and supports our long term sustainability goals,” said Kevin Johnson, president and chief executive officer at Starbucks.

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Bellwether coffee raises $40m for development https://www.teaandcoffee.net/news/23065/bellwether-coffee-raises-40m-for-development/ https://www.teaandcoffee.net/news/23065/bellwether-coffee-raises-40m-for-development/#respond Fri, 06 Sep 2019 11:20:40 +0000 https://www.teaandcoffee.net/?post_type=news&p=23065 Bellwether Coffee, a producer of coffee roasting equipment, has raised $40 million to invest in development of the company which makes in-store roasting emissions-free and easily accessible.

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California-based Bellwether Coffee, a producer of coffee roasting equipment, has raised $40 million to invest in development of the company which makes in-store roasting emissions-free and easily accessible.

In contrast to traditional coffee roasters, which are expensive and difficult to permit and install, often requiring natural gas lines and complicated venting systems, Bellwether’s electric roaster is simple to operate and can be placed in any location, providing the immediate benefits of freshly roasted coffee at a lower cost.

The internet-connected Bellwether Roaster enables customers to use award-winning roast profiles (or create their own) exactly as intended, no matter the operator, location or environment. Additionally, the platform provides access to a curated marketplace of green coffee from farms around the world, inventory management tools, and data analytics from its connected software.

Since officially launching its electric roaster domestically last year, Bellwether Coffee has seen significant demand from coffee retailers, cafes, local grocers and national chains, and on average is installing a roaster per day across the US.

“We are thrilled to be working closely with DBL, Lyndon and Peter Rive to help accelerate our already rapid growth,” said Bellwether’s CEO, Nathan Gilliland. “We expect in-store roasting at cafes and grocery locations to become the rule, not the exception. We are proud that the Bellwether Roaster has become the most consistent and controllable commercial coffee roaster available.”

In addition to meeting global demand for its roaster, Bellwether is also concentrating its efforts on two main areas of social impact: increasing incomes for coffee farmers and eliminating roast processes that are harmful to the planet.

Coffee has long been tied to having an outsized carbon footprint. The electric Bellwether Roaster reduces greenhouse gas emissions by 90% versus traditional gas-powered alternatives. Instead of green, unroasted coffee being shipped to centralised coffee roasting facilities and then shipped to retailers, Bellwether enables its customers to roast on-site—no gas lines or ventilation required. The result is a fresher, higher-value coffee product for customers, increased profit for coffee retailers, a reduced impact on the planet, and more money going to those at the beginning of the coffee supply chain—farmers.

“DBL is pleased to work with Bellwether Coffee to accelerate the reduction of coffee’s carbon footprint and drive positive social impact across the supply chain, all while offering consumers a higher quality coffee experience,” said Nancy Pfund, founder and managing partner of DBL Partners.

“Whether it is cars or coffee, the move to electricity away from fossil fuels whets consumers’ appetite for a planet-friendly, premium product, creating large, high-growth markets in the process.” It was also announced today that Nancy Pfund will join Bellwether’s board of directors.

“Bellwether completely changes how coffee is roasted and distributed,” said Lyndon Rive, who will also join Bellwether’s board of directors. “We are thrilled to co-lead this round to help Bellwether’s outstanding team meet its rapid growth in global demand.”

The Series B round was led by DBL Partners and brothers Lyndon and Peter Rive. Additional participating investors include FusionX, Congruent Ventures, Coffee Bell, Tandem Capital, Spindrift Equities, XN Ventures, Balius Partners and Hardware Club.

The Bellwether Roaster is available to business owners through lease and purchase options. For more information, please visit: www.bellwethercoffee.com.

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Durham Box’s digital solution proves ideal for Love Leaf Tea https://www.teaandcoffee.net/news/22213/durham-boxs-digital-solution-proves-ideal-for-love-leaf-tea/ https://www.teaandcoffee.net/news/22213/durham-boxs-digital-solution-proves-ideal-for-love-leaf-tea/#respond Thu, 04 Apr 2019 14:10:27 +0000 https://www.teaandcoffee.net/?post_type=news&p=22213 Following investment in its new digital press, Durham Box, has helped Newcastle-based tea retailer, Love Leaf Tea, who needed a presentation box for its loose leaf tea infusions.

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Following investment in its new digital press, Durham Box, has helped Newcastle-based tea retailer, Love Leaf Tea, who needed a presentation box for its loose leaf tea infusions.

In need of a small print run and requiring follow-on flexibility to change print on future runs without incurring plate costs, digital was the perfect solution for the online brand.

To create the packaging, a standard die-cut 0427 postal box was used, and an internal fitting was designed for the box to hold the various components. The box was printed 4-colour CMYK inside and one-colour black outside with sealer varnish to the outside print.

“The presentation box is for a subscription box and a gift box we are in the process of setting up,” said Love Leaf Tea’s founder, Melanie Ieronymides. “The folk at Durham Box are great to work with and the use of digital print in this case is perfect for the application and the packaging looks so cool.”

Durham Box’s digital capability is based on a Wonderjet WD200, a 2000mm, single pass, high speed digital printer with dryer and coater inline. It can handle a wide variety of corrugated sheets, from the thinnest microflute, through to standard doublewall board. It prints in the standard CMYK range, using water-based dye inks. This, together with a Zünd BHS150 digital cutter has enables the firm to service the needs of a wide range of customers from a number of different sectors.

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49th Parallel Coffee Roasters announces strategic partnership with Claridge https://www.teaandcoffee.net/news/21837/49th-parallel-coffee-roasters-announces-strategic-partnership-with-claridge/ https://www.teaandcoffee.net/news/21837/49th-parallel-coffee-roasters-announces-strategic-partnership-with-claridge/#respond Thu, 31 Jan 2019 11:03:48 +0000 https://www.teaandcoffee.net/?post_type=news&p=21837 49th Parallel Roasters, a specialty grade coffee company, has formed a strategic partnership with private investment firm, Claridge Inc. Thanks to the Claridge investment, 49th will be broadening its product portfolio, expanding its footprint, and extending its reach to new distribution channels and markets.

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49th Parallel Roasters, a specialty grade coffee company, has formed a strategic partnership with private investment firm, Claridge Inc. Thanks to the Claridge investment, 49th will be broadening its product portfolio, expanding its footprint, and extending its reach to new distribution channels and markets.

“We are celebrating our 15th year in business thanks to the dedication of our employees and the loyalty of our customers and business partners. This is an exciting new chapter opening up in our entrepreneurial journey as Claridge’s involvement will help propel our company into our next growth phase,” said Vince Piccolo, CEO of 49th and Michael Piccolo, head roaster of 49th. “This strategic partnership will enable us to stay true to our roots while delivering exceptional coffee and a great experience across all touch points to our customers.”

“Claridge was attracted by the brand’s great foundation and history. I truly enjoy partnering with passionate entrepreneurs animated by a deep sense of purpose, who create high quality products generating a warm feeling. The combination of the founders’ entrepreneurial spirit, the expertise and devotion of its employees along with Claridge’s strong strategic and operational support is promising for the future of the company,” said Stephen Bronfman, executive chairman of Claridge.

“At Claridge, we source inspiration from similar shifts observed in craft beer and spirits to establish a national specialty coffee leader. Canadians rank among the biggest coffee drinkers in the world and are thirsty for an elevated experience. 49th is the flag bearer of this movement in Canada. Despite an influx of investments in the sector, we believe the cream will ultimately rise to the top,” said Pierre Boivin, president and CEO of Claridge.

49th Parallel Roasters Inc. was founded in Vancouver by brothers Vince and Michael Piccolo in 2004. The family-owned company is vertically integrated to provide a consistent, outstanding product and a memorable experience. Green coffee beans, curated among the finest origins around the world, are sustainably-sourced directly from farmers and meticulously roasted in small batches in Vancouver by the company’s expert roasters to ensure maximum freshness. The combination of relationships carefully cultivated and processes continuously refined over years appear in its superlative specialty grade quality coffee products, yet remain accessible everyday luxuries. For more information about 49th, to inquire about its wholesale program or to make a purchase directly from the roaster, visit: www.49thcoffee.com.

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