Peet's Coffee is buying Stumptown, in a West Coast coffee mixed marriage
The overlap between fans of Peet's Coffee & Tea, the Berkeley coffee stalwart known for its dark-roast blends, and Stumptown Coffee Roasters, the Portland upstart that made lightly roasted single-origin beans fashionable, is probably not huge (though larger than the overlap between Peet's and Dunkin Donuts partisans, surely). Starbucks, the Seattle coffee juggernaut, reacted to Stumptown and its light-roast peers by developing a "blonde roast" line. On Tuesday, Peet's announced it is simply buying Stumptown, for an undisclosed amount.
Stumptown and Peet's both say customers won't really notice any difference — you won't find Stumptown beans in Peet's stores or vice versa. But if Stumptown fans are concerned that their favorite roaster is selling out to a corporate giant like Peet's, well, that's only partly true: Peet's is majority owned by a secretive German family and its investment company in Luxembourg, JAB Holdings Co., that also has a majority stake in Caribou Coffee. The upside for Stumptown drinkers is that the coffee — and especially its bottled cold brew, which is what drew Peet's attention — will probably become available in more markets. The downside: If you want to drink local, well, that Starbucks on the corner at least sends its money to Seattle.
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