UPDATE 2:45 pm: Stumptown Vice President Matt Lounsbury just called back to confirm that Peet’s now has 100 percent ownership of the company, but says that customers can expect “business as usual,” and that no Portland jobs will be lost as a result of the sale. There are also no plans for Stumptown products to be sold in Peet’s locations, or vice versa. Founder Duane Sorenson will also continue to be involved in the day-to-day operations of Stumptown, according to Lounsbury, and the deal in no way affects Sorenson’s other ventures in the restaurant world (The Woodsman, Ava Gene’s).

Original Post:
After a rumor-filled morning, Stumptown Coffee Roasters just confirmed the sale of their company to the California-based Peet’s Coffee (itself once a charming specialty destination beloved by Bay Area residents who felt a similar ownership towards it, Peet’s founder Alfred Peet first sold it in 1979, and the company eventually went public in 2001) to Eater.

Stumptown already caused a bit of a citywide freakout back in 2011 when news got out that the iconic Portland company, which represents many of the values associated with local pride—from its legendary treatment of employees (hello staff massage therapist) to its artisanal approach to beans and brew—had accepted a majority investment from the New York-based TSG Consumer Partners. Nonetheless, after the dust settled, founder Duane Sorenson’s mini empire has carried on in much the same spirit it always has.

Screen_Shot_2015-10-06_at_11.59.09_AM.png
  • Stumptown

More details are expected soon.

Marjorie Skinner is the Portland Mercury's Managing Editor, author of the weekly Sold Out column chronicling the area's independent fashion and retail industry, and a frequent contributor to the film and...

10 replies on “UPDATE: Stumptown Coffee Sold to Peet’s”

  2. I wonder what properties the bitter tears of PDXers would taste like when brewed with artisanal coffee?

    Anyway, sad! But probably should have seen this coming. I suspect our favorites from yesteryear will all be bought up. Which is good! It paves the way for new things. 😀

  4. It’s not sad or bitter or anything else (this time around). The way it’s written, it’s as if Stumptown wasn’t sold in 2011. But it was, basically. TSG owned the majority of the company. I guess now it’s more personal because another coffee corp bought them whole hog, but it’s not much different. Not a boutique business any longer, but still a boutique brand. And so it goes. The continued marketing of the Portland “brand.”

  5. This makes me wonder what the contracts are like for all the third party cafes stuck with Stumptown. What does it take for, say, Fresh Pot to move over to, say, Ristretto?

  6. Smart move on the part of Stumptown share holders, provided they hold cash now. Of course Peete’s has too much bitter Quinine and will probably ruin Stumptown’s excellent roasts.

  7. Oregon, and Portland in particular, is enamored with its corporate regional/national brands masquerading as wholesome local/artisnal brands.

Comments are closed.