Chameleon Cold Brew, one of the next-generation cold-brewed coffee concentrate companies that have recently entered the market, has pulled in investment from Houston, Texas private equity firm Fortitude Capital.
The deal, closed in November, is expected to help the company grow production and distribution and enhance sales and marketing, according to the company.
Chameleon, located in Austin, Texas is sold in Whole Foods, Wegmans, HEB Central Market and Bristol Farms — and it’s headed for Gelson’s in Southern California. Some of its distribution is through Whole Foods DSD specialist Green Shoots.
Release is below:
February 8, 2013
CHAMELEON COLD-BREW IS FUNDED FOR GROWTH
Chameleon Launches 2013 with Large Capital Investment for Expansions Across the Board
(Austin, TX)— In 2012, Chameleon Cold-Brew had its best year ever and expanded on retail shelves across the nation. Chameleon launched in new markets including Southern California, the Mid-Atlantic and Rocky Mountain States, all while maintaining a strong presence in its Texas home. A month into the new year, Chameleon is proud to announce that Fortitude Capital, LLC, a Houston-based investment firm headed by CEO Bart Agee and Senior Vice President Bradley Crawford, have acquired a significant minority stake in Chameleon Cold Brew, LLC.
The deal was largely brokered based on Chameleon’s growth over the past year and prospects for the future. Chameleon is currently available at Whole Foods Markets, Wegmans, HEB Central Market, Bristol Farms and a number of other retailers from coast to coast. Since securing funding, Chameleon has launched in Whole Foods stores in Ohio and Kentucky, made its first foray into the coffee-loving Pacific Northwest at Central Co-op in Seattle and stocked shelves at Gelsons in Southern California. According to Chameleon CEO, Chris Campbell, “We’re very excited about our partnership with Fortitude Capital. With their investment and support, we are well positioned to expand into new markets, drive sales at existing retailers, and bring new products to our customers. Fortitude is a strong partner with a patient view towards the future that believes in what we’re doing and supports our efforts to emerge as the national leader in the developing cold-brew category.”
The investment from Fortitude Capital, which was finalized in November 2012, provides capital needed to expand production and distribution, enhance sales and marketing efforts, build out organizational infrastructure, and introduce new Chameleon Cold-Brew products.
Bradley Crawford, Senior Vice President of Fortitude Capital said, “Fortitude Capital is very pleased to make an investment into Chameleon Cold-Brew, and is excited about the future prospects of the company. Chris Campbell and Steve Williams have developed a great product, and we look forward to supporting its future growth as a brand.”
Immediate changes and news includes co-founders Chris Campbell and Steve Williams assuming roles of President and CEO, and Vice President, respectively, expansion of production facilities, and appearances at the upcoming SXSW Festival in Austin and Expo West in Anaheim (in partnership with Green Shoots Distribution).
About Chameleon Cold-Brew Coffee: Chameleon Cold-Brew is a revolutionary way to drink and enjoy coffee. It’s cold brewed, low and slow for more than 16 hours at a low temperature to produce a super smooth, less acidic, extra caffeinated coffee concentrate. Chameleon uses 100% organic Fair Trade Certified Arabica coffee and filtered water. It contains 65% less acid and more caffeine than traditional coffee. Enjoy it hot or cold, with creamer, sweeteners or even chocolate milk— the possibilities are endless. It truly is Coffee, Evolved. Chameleon coffee can be found in the refrigerated section of select grocers in 16 and 32oz recyclable glass bottles. For information on Chameleon Cold-Brew please visit www.chameleoncoldbrew.com. Follow on Facebook at www.facebook.com/chameleoncoldbrew and on Twitter @ChameleonCoffee.
About Fortitude Capital, LLC: Fortitude Capital provides senior debt, mezzanine debt, and direct equity investment to lower middle market manufacturing and distribution companies, to support growth, acquisition and liquidity. For more information please visit www.fortitudecapitalllc.com or contact Bradley Crawford directly at 713.463.1552.