Dutch Bros Coffee, the largest privately held drive-thru coffee chain in America, has just secured funding from TSG Consumer Partners. According to the press release, the total amount paid by TSG remains undisclosed but does give the company a minority stake in the business.
For those in the coffee world, the name TSG Consumer Partners may ring a bell; the firm invested in Stumptown, the funding heard round the world that kicked off a string funding announcements and acquisitions from big name specialty coffee roasters. And now TSG has turned their sights to another Oregon coffee company: Dutch Bros. Per the press release, the Grants Pass-based chain boasts 300 locations across seven states, and with the help of TSG, the brand has plans to increase that number to 800 in the next five years.
In the statement, Dutch Bros cofounder and CEO Travis Boersma had this to say:
TSG understands the vision of Dutch Bros and values our unique company culture and dedication to our people, customers and local communities. We’re continuing to invest in our people first, helping those who are determined and hungry design their lives and live their dreams. We have set ambitious growth and expansion goals, and we trust TSG to help us build on this momentum in the most strategic way possible.
Along with Stumptown, Dutch Bros now joins other beverage companies in the TSG portfolio including: Pabst Blue Ribbon, SweetWater Brewing Company, Brewdog, Vitamin Water, Voss, and Duckhorn Vineyards.
The full statement from Dutch Bros Coffee can be found here.
Zac Cadwalader is the news editor at Sprudge Media Network and a staff writer based in Dallas. Read more Zac Cadwalader on Sprudge.
Top image via Dutch Bros Coffee
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Source: Coffee News
