Sojourner Consumer Partners has signalled it will look for more deals in coffee after buying a majority stake in Hawaii Coffee Company.
Alongside announcing the deal for Hawaii Coffee Company, the US private-equity firm has set up a new “platform” called SoJoe Coffee.
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The new unit will “actively seek “partnerships and acquisitions with high-potential” packaged and ready-to-drink coffee companies” based in North America, Sojourner Consumer Partners said.
The financial terms of the deal for Hawaii Coffee Company were not disclosed.
In a statement, Sojourner Consumer Partners described Hawaii Coffee Company as a “leading” roaster of packaged coffee in the state of Hawaii and a “pioneer” of flavoured coffee in Japan.
Hawaii Coffee Company, established in 1979, markets products under brands including Lion Coffee, Royal Kona Coffee, Hawaiian Isles Coffee Roasters, Koa Coffee and Hawaiian Islands Tea Company.
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By GlobalDataThe company’s headquarters and roastery are located in Honolulu, Hawaii, with milling operations on the Big Island in the Kona Coffee Belt.
The company will continue to operate under the Hawaii Coffee Company name, maintaining its roasting, milling, and office facilities, as well as its cafes across Hawaii.
Commenting on the deal, Hawaii Coffee Company president Gerard Bastiaanse said: “Sojourner’s experience in the coffee sector and track record with building and improving companies, particularly its expertise with E-commerce and sustainability, are truly differentiated.
“They quickly understood our business and identified areas where they could help us while committing to uphold our high standards.”
Los Angeles-based Anderson Holdings will hold a minority stake in the business.
Rob DesMarais, senior partner at Sojourner Consumer Partners, said: “We are thankful for the opportunity to partner with Hawaii Coffee Company and the Anderson family.
“The company’s commanding presence in Hawaii and its embodiment of the ‘spirit of Aloha’, which is at the core of the Hawaiian culture and visitor experience, has underpinned HCC’s continued strength in Hawaii and propelled the brands into Japan and US mainland.”
