California-based Peet’s Coffee announced December 20 it has acquired a majority stake of California-based craft brewery Revive Kombucha.
“Building an evergreen ecosystem for the Revive brand has always been part of our mission,” Sean J. Lovett, founder and CEO of Revive Kombucha, said in a statement. “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.”
Revive Kombucha started in 2010 and over the past eight years has developed a line of sustainably produced Kombucha that’s available in bottles and on tap. Over the past year, the demand and popularity of Kombucha has grown rapidly. The financing by Peet’s will allow the Revive brand to scale, “grow its brewery operations and broaden its distribution via the coffee company’s network,” the company said in a statement.
Using Peet’s existing on-premise and Peet’s coffeebar locations, Revive will be able to capture a share of the national market. Peet’s products are in more than 15,000 grocery locations nationwide and the new deal will allow Revive to have the accessibility to grow to those locations in the future. This acquisition also allows Peet’s to accelerate and strengthen the diversification of its chilled beverage portfolio.
Peet’s believes it is the perfect partner for Revive to help the brand grow.
“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.”
Revive’s co-founders Sean Lovett and Rebekah Lovett will remain at in their leadership positions at the company and continue to develop Revive’s innovative process of batch brewing and methods of natural fermentation of the Kombucha.