Hot off the back of WW's feature story today, The Selling of Stumptown, Stumptown Coffee founder Duane Sorenson has finally made an official statement on Stumptown's website today. The four-paragraph statement does not clarify whether he still owns the company or if he has sold a controlling stake of the business to investment firm TSG Consumer Partners:
“At a time when it’s difficult to find the financing to grow, run and operate a quality driven and sustainable business, I am pleased to announce that Stumptown has found an investor to help us offer opportunities and take care of our employees, farmers and customers like we’ve never been able to do before. I have been lucky enough to find an investor that will enable me continue to run Stumptown and focus on the coffee.
While Oregon’s economy struggles and the unemployment rate is staying high, we’re looking forward to employing more talented and creative people to help us grow and stay focused on the highest quality coffee and the service we are known for. After all, the success of Stumptown comes from the awesome individuals we have and the strength of our team.
Stumptown will continue to be about the coffee and the relationships we have – with our employees, our farmers, our customers and all the folks looking for the finest coffees available. Aleco, our head coffee buyer, now has more resources to find and work with the absolute best coffee farms and farmers in the world. We’re excited to continue to roast and prepare the finest coffees, support the neighborhoods where we do business and the countries where we purchase our coffees from.
A huge thanks to all our amazing staff for working hard every day and making sure that our coffee is perfect every time. We’re also excited and proud to continue to work closely with some of the finest restaurants, coffee bars and specialty grocers around.”