The financial terms of the deal have not been disclosed, although Mistobox Co-Founder Connor Riley will join the Clive Coffee management team and maintain a stake in the combined company, according to an announcement from Clive Coffee this week.
“We have been working closely with Mistobox for years to offer our customers a frictionless way to enjoy the best of specialty roasters at home,” Clive Coffee CEO Adam Raper said in the announcement. “This acquisition simply makes it formal. We are excited to welcome Connor and his team to Clive and fully expect this partnership to lead to a far better customer experience as a full-service retailer.”
Riley co-conceived Mistobox a decade ago with co-founder Samantha Meis. The business officially launched in 2012 before pitching to the panel on the ABC show “Shark Tank” in 2013 and eventually striking a deal with Mark Cuban.
The business offers traditional online coffee sales as well as subscription sales through which customers can set certain parameters — such as whole bean or ground, roast level, single-origin or espresso, and budget — before receiving a curated box of coffees. Coffees are roasted and bagged by one or more of 50 U.S. specialty coffee roasters engaged in a relationship with Mistobox.
Clive said it expects the coffee subscription service to complement its broad lineup of home and prosumer espresso machines and accessories, including its own Lucca Espresso line (styled as the company as “LUCCA Espresso”) of espresso machines and grinders. In addition to equipment, Clive also offers an online tutorial program on home coffee preparation called Coffee School.