Historically high coffee prices, new regulations like the EUDR, climate change and increased demand for high-quality coffee squeezed coffee businesses of all sizes this year, creating what many characterized as a “challenging operating environment”. .
While some coffee companies—even some in the coffee-recession-protected United States—eventually folded, the coffee business continued largely unabated with new venture capital funding, and mergers and acquisitions galore.
The EUDR has officially been delayed, but many coffee companies have found themselves on the wrong side of other laws, facing accusations of labor violations, deceptive practices or market manipulation.
Continuing DCN’s 2024 review, here’s a look back at some of the biggest coffee business news. For all the latest coffee business news, subscribe to the DCN newsletter.
Mergers and acquisitions
European firm Verdane takes majority stake in Cropster
Verdane, which is based in Norway, said its investment in the coffee software company will further support Cropster on its “growth path”, which the firm said could include organic growth as well as mergers and acquisitions… read more
Photo by Daily Coffee News.
De’Longhi combines La Marzocco and Eversys for the new Coffee Machine Group
De’Longhi said the deal “will be able to create synergies and cross-selling opportunities,” for La Marzocco and Eversys… read more
JDE Peet buys Caribou coffee roasting operation in $260 million deal
The transaction also includes the transfer of Caribou Coffee’s Minnesota manufacturing roasting operations, as well as all coffee and food service contracts to Caribou’s office… read more
A sign of Caribou Coffee. Daily Coffee News photo by Nick Brown.
StoneX acquires Mercon Specialty, launches StoneX Specialty Coffee
The acquisition comes roughly six months after Mercon Coffee Group filed for Chapter 11 bankruptcy and was then allowed to stay in business to sell assets and pay off creditors…. read more
Energy trader Hartree plans to buy Volcafe owner
The acquisition includes ED&F Man’s three commodity business units: Volcafe (coffee); ED&F Man Liquid Products (molasses, pet food and fish oil); and ED&F Man Sugar. Financial terms of the acquisition were not disclosed… read more
Maryland Coffee Ceremony now part of the FairWave Collective
According to the announcement, the deal includes all six of Ceremony Coffee’s retail coffee shops, its Annapolis roasting operation, administrative offices, its cold and ready-to-drink beverage business and its e-commerce business… read more LOT
The second location of Ceremony Coffee, which opened in Baltimore in 2015. Public domain photo.
Coffee Holding Co. Buys Longtime NY Private Label Roaster Empire
Made through a newly established subsidiary of Coffee Holding Co. named Second Empire, the acquisition includes all of Empire’s existing inventory, equipment, accounts, customer list and intellectual property… read more
With WA acquisition, Dillanos Plans Batdorf & Bronson Revival
The acquisition will soon result in the revival of the Batdorf & Bronson Coffee Roasters brand, which was folded into the Dancing Goats name in 2022… read more
Simonelli Group buys 3Temp Drip Coffee Machines
For the Simonelli Group, whose portfolio of brands and equipment remains largely focused on espresso production and grinding, the acquisition of the fresh-faced 3Temp represents a significant expansion into the world of filter/drip coffee production… read more
Regulation and Markets
The European Parliament formally postpones the implementation of the EUDR
The implementation delay comes as tropical deforestation continues at an alarming rate of approximately 3.7 million hectares (9.1 million acres) per year, or the equivalent of nearly 10 American football fields per minute… read more
EU Commission Headquarters in Brussels, Belgium.
Fair Trade USA founder Paul Rice steps down as CEO
An influential figure in the fair trade movement for the past quarter century, Paul Rice is stepping down as CEO of Fair Trade USA… read more
El Salvador President Bukele introduces coffee brand with US business ties
El Salvador’s President Nayib Bukele has launched a new high-end coffee brand called Bean of Fire, targeting the United States market to sell… read more
Keurig Accused of Fraudulent Recycling Claims, Pays $1.5 Million
The United States Securities and Exchange Commission (SEC) today accused Keurig Dr.
Report: Out-of-home coffee consumption highest in US since pre-pandemic
Out-of-home coffee consumption has reached its highest level since January 2020, according to the latest edition of the US National Coffee Association’s biannual consumer trends report… read more
Vocal Alliance launches, seeks EU regulatory compliance on Pushback
A new consortium of civil society organizations under the acronym VOCAL (Voice of Organizations in the Coffee Alliance) was launched today, challenging the coffee industry’s dominant positions on regulatory compliance… read more
US Department of Labor sues New York coffee chain over overtime pay
A New York City specialty coffee chain called White Noise Coffee is facing a lawsuit from the United States Department of Labor (DOL) alleging violations related to overtime pay and record keeping… read more
The owners of Qargo coffee are accused of rare violations of franchise rules
The United States Federal Trade Commission (FTC) last week charged the owners of Miami-based coffee franchise Qargo Coffee with violating a rarely mentioned franchise law while collecting $1.25 million in fees from 59 franchisees in multiple states… read more
Labor violations are alleged in Starbucks and Nestlé supply chains in China
Independent field investigations in China’s Yunnan province found labor violations at coffee farms that supply coffee purchased and certified as sustainable by coffee giants Starbucks and Nestlé, according to a new report by two labor watchdog groups… read more
Dutch merchant Sucden Coffee surrenders $670,000 after ICE charges
Dutch green coffee trader Sucden Coffee has agreed to a settlement with the Intercontinental Exchange (ICE) following an announcement that it “may have” breached a rule designed to prevent the manipulation of the coffee market… read more
Investments, Openings and Closings
Botrista closes $120 million round led by Jollibee
The latest round brings the San Francisco-based hardware company’s total capital raised to $120 million since its inception in 2017… read more
Westrock Coffee Opens Massive Brewery in Arkansas
Arkansas-based Westrock Coffee unveiled a massive roasting and ready-to-drink (RTD) coffee plant and development lab last week… read more
Courtesy photo.
Royal Coffee acquires Large Warehouse and Industrial Complex in Oakland
California-based commercial coffee company Royal Coffee has purchased a new warehouse, distribution and manufacturing complex totaling 103,500 square feet in Oakland… read more
Coffee and food chain Foxtrot suddenly closes all 33 stores in the US
Specialty coffee shop and grocery boutique chain Foxtrot abruptly closed all 33 of its locations across the United States yesterday, giving little notice to the hundreds of employees who are now out of work… read more
Luckin Coffee opens the largest coffee roaster in China
Chinese coffee roasting and retail giant Luckin Coffee this week opened a massive $120 million roasting plant in Kunshan… read more
Café William opens monumental all-electric roastery in Quebec
With the support of multiple government agencies, Quebec, Canada-based coffee company Café William has opened what it claims is “the world’s first 100% electric industrial roaster.” … read more
Press image by CNW Group/Café William.
Daily Coffee News Staff
