coffee industry executive has come forward to confirm Stumptown Coffee's sale to investment firm TSG Consumer Partners.
Tony Dreyfuss, co-owner of Chicago's Metropolis Coffee Company, told WW that he was also approached by TSG in early May, and he also was told that the investment firm owns a controlling stake of Stumptown.
"They mentioned that they had an ownership stake in Stumptown," Dreyfuss says.
"They said the way they work is that they purchase a 90 percent stake in companies. My father, who is [Metropolis's] co-owner, asked outright whether they owned a 90 percent stake of Stumptown, and they responded, 'Let's just say that it fits the profile.'"