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Change is brewing, coffee fans — Peet's Coffee & Tea purchased popular Portland-based Stumptown Coffee Roasters.
Peet's has been around since the 1960s when Albert Peet opened the flagship location in Berkeley, Calif. Stumptown got its start 15 years ago when founder Duane Sorenson debuted it in Portland, Oreg. According to Stumptown's website, despite the acquisition, both coffee shops will remain separate entities and continue to operate independently. They will, however, work together to play up their shared strengths—Peet's logistics and the success of Stumptown's cold-brew specialty coffee and nitro cold-brew.
California-based Peet's has locations in nine states, with six stores in Regency Centers properties: California's Ygnacio Plaza and Clayton Valley Shopping Center, Virginia's Belmont Chase, Kings Park Shopping Center and Braemar Village Center and Tanasbourne Market in Oregon.
Read the full story here.
