STiR coffee and tea magazine

18 STiR coffee and tea / Issue 3, 2018 (June / July) "Given the significant strategic progress that has been made and the momentum in the delivery of the plan, the board is confident that both Premier Inn and Costa will soon be businesses of sufficient strength, scale, and capability to enable them to thrive as independent companies," she said. Costa Coffee, with 2,300 UK coffee shops among 3,532 globally, could be valued as high as $4.3 billion. "Coffee shops and hotel rooms don't make natural bedfellows, so splitting off Costa Coffee from Premier Inn makes sense for Whitbread," Laith Khalaf, a senior analyst at the investment com- pany Hargreaves Lansdown, told The Guardian. "The breakup will provide each of the two emerging companies with a greater strategic focus on their own goals and will allow investors to choose which of the two distinct brands they want exposure to." Gloria Jean's Opens in UK Gloria Jean's Coffees, a leading specialty coffee house in Australia, will open 13 shops in the United Kingdom in the next year. The move is part of a larger 10-year plan by its parent company, Retail Food Group (RFP), to bring 190 outlets to the country. The first Gloria Jean's will open in Glasgow in July under an agreement with local businessman, Naweed Nasir. Retail Food Group is the largest multi-brand retail food franchiser in Australia with a network of 9 brands and more than 2,400 outlets in more than 80 territories. "The agreement will not only enable RFG's first Gloria Jean's outlet to open in the United Kingdom, but it will also be our first outlet outside Australia to represent the 'Gloria Jean's of the future' —a significant brand renovation where all elements of the brand have been rigorously reviewed and tested," said Retail Food Group c.e.o. Mike Gilbert. US Royal Cup Cold Brew Royal Cup, Inc., is now providing shelf-stable, ready-to-drink cold brew coffee in more than 280 Walmart stores. Royal Cup, an American importer, roaster and distributor of both coffees and teas, first introduced its cold brews in its neighborhood Walmart in March. Royal Cup cold brew at Walmart David Burke c.e.o. Tierra Nueva "We are thrilled that our ready-to- drink cold brew line will now be so readily available to customers," said Bill Smith, Royal Cup's c.e.o. "We've had such a positive response to these products in the short time since their March release and fully expect the excitement will carry over into the retail space." The Walmart development followed Royal Cup's 2017 acquisition of Richgood Gourmet LLC, maker of Icebox Coffee, an early shelf-stable, cold-brew coffee. Icebox founder Bebe Goodrich now oversees Royal Cup's liquid product innovation efforts. Loring Upgrades Roasters Loring Smart Roast has upgraded its series of commercial roasters with a package of 133 enhancements. The new features are now standard on the S15 Falcon, the S35 Kestrel, and the S70 Peregrine. The most significant upgrade, the company said, is the addition of an adjustable ergonomic arm on the touchscreen enclosure allowing the screen to be moved for easy reading under varied conditions. In another update, a redesigned cooling tray screen cuts cooling time by 15%. Upgrade kits for existing roasters will be available in the future. Learn more: www.loring.com Burke Takes Tierra Nueva Reins Tierra Nueva Fine Cocoa, a Miami- based coffee technology and manufac- turing company, has named David Burke as its new c.e.o. Burke has worked in the food and beverage industry for more than 30 years, most recently with Red Diamond Coffee & Tea. His resume includes stops at Coca-Cola, Pepsi and Primo Water. "As we chart our course toward Tierra Nueva's global leadership in the coffee revolution, we believe David Burke is the right man at the helm," said Christopher Ramonetti, managing partner and c.e.o. of ProspEquity Partners, Tierra Nueva's majority owner. "His capabilities, experience, connec- tions, and relationships in the food and beverage industries are of significant value in our strategic planning, while the management acumen and competitive prowess he applies to all his business initiatives ensure we will meet all objectives in an accelerated fashion." High Brew Gets $20 Million Cold brew manufacturer High Brew, founded in 2013 by Sweet Leaf Tea founder David Smith, announced an additional $20 million round of invest- ments. The round was led by Austin, Tex.-based Charles Street Partners. In a release Smith said, "I always knew High Brew was special, not only because it tastes great, but because of the fact it truly provides clean energy in a can that blows away scary energy drinks or sugary coffees that are on the market." The coffee is distributed nationally at retail locations including Kroger, Safeway, H-E-B, and Whole Foods and sold 24 million cans in 2017. This is the third round of outside funds. High Brew raised $17 million last year from BIGR Ventures in Boulder, Colo. and in 2016 received $4 million in early-stage financing from CANVU Venture partners.

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