Peet’s Coffee announced Thursday that it has bought a majority stake in Petaluma’s Revive Kombucha, which was founded eight years ago by a couple who started selling their fermented organic tea at the Santa Rosa farmers market and managed the brand through skyrocketing growth in the specialty drink sector.
The Emeryville-based Peet’s already had a minority stake in the company founded by Sean and Rebekah Lovett in 2010.
In 2017, Peet’s was the lead investor in a $7.5 million financing round for Revive with other investors, including Blair Kellison, chief executive officer of Traditional Medicinals Inc. of Rohnert Park.
Under the new deal, the Lovett’s will maintain an equity stake in the company as well as leadership positions with Revive.
“Building an evergreen ecosystem for the Revive brand has always been part of our mission,” said Sean Lovett in a statement. “We are excited to further solidify our long-term partnership with Peet’s to fulfill our greater purpose of bringing our super tasty and good-for-you beverages to a larger audience.”
The Revive brand had a 168 percent growth in sales in supermarkets, drugstores, convenience stores and other retail outlets over the past 52 weeks.
Check back later for more details.
originally appeared in the Press Democrat