This year has seen historic coffee price increases, new regulations such as the EUDR, climate change, and increased demand for high-quality coffee putting pressure on coffee companies of all sizes, with many companies characterizing a “challenging operating environment.” created a situation.
Although some coffee companies, even some in the coffee-bust-resistant United States, eventually went bankrupt, the coffee business remained largely intact thanks to new venture capital funding and a flurry of mergers and acquisitions. It continued unabated.
Although the EUDR has been officially postponed, many coffee companies have found themselves on the wrong side of other laws, facing allegations of labor violations, deceptive practices, or market manipulation.
Let’s take a look back at some of the biggest news stories in the coffee business as we look back at DCN’s 2024. For all the latest coffee business news, subscribe to the DCN newsletter.
mergers and acquisitions
European company Verdane acquires majority stake in Cropster
Norway-based Verdane said the investment in the coffee software company will further support Cropster’s “growth path,” which the company said could include organic growth and mergers and acquisitions. … read more
Daily Coffee News Photo.
DeLonghi merges La Marzocco and Eversys to create new coffee machine group
DeLonghi said the deal “could create synergies and cross-selling opportunities” for La Marzocco and Eversys…Read More
JDE Pete acquires Caribou coffee roasting business in $260 million deal
The transaction also includes the transfer of Caribou Coffee’s production and roasting operations in Minnesota and all of Caribou’s office coffee and food service agreements…Read More
Caribou Coffee sign. Daily Coffee News Photo by Nick Brown
StoneX acquires Mercon Specialty and launches StoneX Specialty Coffee
The acquisition comes about six months after Mercon Coffee Group filed for Chapter 11 bankruptcy and was subsequently allowed to continue operating in order to sell assets and repay creditors. read more
Energy trader Hartley plans to buy out Volcafe owner
The acquisition includes ED&F Man’s three product divisions. ED&F Man liquid products (molasses, animal feed, fish oil); and ED&F Man Sugar. Financial terms of the acquisition were not disclosed… Read more
Maryland’s Ceremony Coffee becomes part of Fairwave Collective
The deal includes all six of Ceremony Coffee’s retail coffee shops, Annapolis roasting operations, administrative offices, cold brew and ready-to-drink operations, and e-commerce operations, according to the announcement.
Ceremony Coffee’s second store opened in Baltimore in 2015. Public domain photo.
Coffee Holding Co. acquires longtime New York private label Roaster Empire
The acquisition, made through a newly formed Coffee Holding Co. subsidiary called Second Empire, includes all of Empire’s existing inventory, equipment, accounts, customer lists and intellectual property…Read More
With Washington acquisition, Delanos plans to revive Batdorf & Bronson
The acquisition will soon see the return of the Batdorf & Bronson Coffee Roasters brand. The brand was incorporated into the Dancing Goats name in 2022… Read more
Simonelli Group acquires drip coffee machine manufacturer 3Temp
For the Simonelli Group, whose brand and equipment portfolio remains primarily focused on espresso extraction and grinding, the acquisition of newcomer 3Temp marks a significant expansion into the world of filter/drip coffee extraction.
regulation and market
European Parliament officially postpones EUDR implementation
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 about 10 American football fields per minute.
European Commission headquarters in Brussels, Belgium.
Fair Trade USA founder Paul Rice resigns as CEO
Paul Rice, an influential figure in the Fair Trade movement over the past quarter century, is stepping down as CEO of Fair Trade USA… Read more
El Salvador’s President Boucle launches coffee brand in partnership with US
El Salvador’s President Nayib Bukele has launched a new premium coffee brand called Bean of Fire, targeting sales in the U.S. market.
Keurig pays $1.5 million for allegedly misrepresenting recyclability
The U.S. Securities and Exchange Commission (SEC) today charged Keurig Dr. Pepper with inaccurate statements regarding the recyclability of single-use plastic K-cups… Read More
Report: U.S. out-of-home coffee consumption is at its highest since before the pandemic
Out-of-home coffee consumption has reached its highest level since January 2020, according to the latest edition of the U.S. National Coffee Association’s biannual Consumer Trends Report.
Vocal Alliance launches, calls for compliance with EU regulations over backlash
A new consortium of civil society organizations, acronymed by the acronym VOCAL (Voice of Organizations in Coffee Alliance), was launched today to challenge the coffee industry’s prevailing position on regulatory compliance… Read more
U.S. 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 U.S. Department of Labor (DOL) alleging overtime pay and record-keeping violations.
Qargo coffee owner charged with rare franchise violation
The U.S. Federal Trade Commission (FTC) last week said the owners of Miami-based coffee franchise Qargo Coffee collected $1.25 million in fees from 59 franchisees in multiple states while franchising rarely mentioned franchises. accused of violating the law.
Suspected labor violations in China’s Starbucks and Nestlé supply chains
An independent field investigation 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 from two labor watchdog groups. It turns out… read more
Dutch trader Sucden Coffee surrenders $670,000 after ICE allegations
Dutch green coffee trader Sucden Coffee has agreed to a settlement with the Intercontinental Exchange (ICE) after being notified that it “may have violated” rules meant to prevent coffee market manipulation. did.
Investment, opening, closing
Botrysta closes $120 million round led by Jollibee
The latest round brings the San Francisco-based equipment company’s total capital raised since its founding in 2017 to $120 million… Read more
WestRock Coffee opens large-scale beverage factory in Arkansas
Arkansas-based WestRock Coffee last week unveiled a large-scale coffee roasting and ready-to-drink (RTD) beverage plant and development lab… Read More
Courtesy photo.
Royal Coffee buys large Auckland warehouse and industrial park
California-based coffee trading company Royal Coffee has purchased a new warehouse, distribution and manufacturing complex totaling 103,500 square feet in Oakland… Read more
Coffee and grocery chain Foxtrot suddenly closes all 33 stores in the US
Foxtrot, the specialty coffee shop and boutique grocery store chain, suddenly closed all 33 of its stores across the United States yesterday, with little notice to the hundreds of employees who are currently out of work… Read more
Luckin Coffee opens China’s largest coffee roastery
Chinese coffee roasting and retail giant Luckin Coffee this week opened a massive $120 million roasting factory in Kunshan… Read more
Café William opens monumental all-electric roaster in Quebec
Cafe William, a coffee company based in Quebec, Canada, has opened what it claims is the world’s first 100% electric industrial roaster, with support from numerous government agencies. … read more
Press image by CNW Group/Café William.
daily coffee news staff
