Restaurateur Danny Meyer’s Union Square Hospitality Group has announced an undisclosed investment in New York-based Joe Coffee that the group said will result in a strategic alliance to grow the Joe brand in New York, Philadelphia and in new coffee bars in “cities across the country.”
A 13-year-old roasting and retail company, Joe currently has 14 retail locations in New York and Philadelphia, as well as numerous high-profile New York restaurant and hospitality accounts. The company has supplied coffee and coffee support for numerous USHG events and restaurant locations since as far back as 2006.
“USHG has had a meaningful relationship with Joe Coffee and founder Jonathan Rubinstein for many years, both as avid fans of their coffee bars and also having served their coffee at Union Square Events for years,” Meyer, whose businesses include Shake Shack, Union Square Cafe, Blue Smoke and numerous other New York restaurants and vendors, said in a USHG announcement today. “We chose to make this investment with Joe Coffee because they are dedicated to the pursuit of making flawless coffee, are led by passionate and exceptional management, and share the same hospitality values as USHG.”
While the terms of the deal were not made public, USHG said Joe Coffee’s leadership team will continue to manage day-to-day operations, while the investment will allow for additional industry insight and resources. Said USHG, “The investment will help fuel the growth of Joe coffee bars in cities across the country, and continue to build on Joe’s culture, team, community and marketing programs.”