The world’s biggest food and beverage brand has swallowed up another indie coffee company: Nestle bought Chameleon Cold-Brew for an undisclosed price, Reuters reports.
Chameleon, which was founded in Austin in 2010 by Chris Campbell and Steve Williams, makes cold-brew coffee concentrate as well as bottled, ready-to-drink cold-brew beverages in various flavors; its products are available at stores nationwide including Whole Foods, Target, and Kroger. This marks the second major coffee acquisition for Nestle in recent months: In September, it acquired a majority stake in indie coffee darling Blue Bottle, which also sells bottled cold brew.
As Nestle builds up its coffee arsenal with independent roasters in an attempt to lure younger customers, it faces stiff competition from JAB Holdings, a conglomerate that owns a laundry list of coffee brands including Stumptown, Intelligentsia, Keurig, Caribou Coffee, and Peet’s. JAB is also rumored to be eyeing a purchase of Dunkin’ Donuts.