Royal Cup buys out owner of US coldbrew coffee brand Icebox

first_imgRoyal Cup buys out owner of US cold-brew coffee brand IceboxPosted By: News Deskon: August 16, 2017In: Beverage, Business, Industries, Mergers & Acquisitions, Tea & CoffeePrintEmailSpeciality coffee importer and roaster Royal Cup has acquired Richgood Gourmet, the maker of cold-brew brand Icebox Coffee.The line of shelf-stable and cold-brew coffees is available in both ready-to-drink and concentrated formats. For Alabama-based Royal Cup, it marks a significant venture away from its traditional business of coffee beans.Bebe Goodrich, who founded Icebox Coffee, will join Royal Cup as director of liquid product innovation.“Richgood Gourmet perfectly complements Royal Cup in its commitment to innovation, product quality and excellent client service,” said Royal Cup CEO Bill Smith. “Combining forces to expand our cold-brew offering and improve our ready-to-drink product mix is a strategic move. We are excited for Bebe to join us, and are confident that her industry expertise and entrepreneurial spirit will shape the future of Royal Cup’s liquid-manufacturing processes and SKU development.”Royal Cup said the acquisition marks ‘a significant evolution’ in its business-to-business model.One of the US’ first shelf-stable cold-brew coffees, Icebox grew its customer base rapidly through early distribution agreements with major retailers, including Whole Foods and Central Market, and today is sold across the country.Richgood Gourmet also supplies shelf-stable cold brews to large retail chains for private-label use.Icebox founder Bebe Goodrich said: “Icebox Coffee has been on a tremendous growth trajectory over the past five years, and I’m immensely proud of the company we’ve built. Now is the perfect time for us to join Royal Cup to achieve even greater success. Royal Cup’s strength, scale and international footprint will ensure that we continue to deliver the best cold-brew coffees, teas and other all-natural, ready-to-drink beverages to our valued customers.”In her new role, Goodrich will lead new product development initiatives for Royal Cup’s liquid manufacturing business. All Icebox Coffee operations will relocate to Royal Cup’s headquarters by the end of 2018. Royal Cup intends to retain all of Richgood Gourmet’s staff.Share with your network: Tags: coffeeCold BrewIcebox Coffeeiced coffeeRoyal CupUSlast_img read more