Private-Label Specialist Cascade Coffee Has New Investor

Cascade Coffee logo. 2024.

Everett, Washington-based Cascade Coffee, one of the largest coffee roasting and packaging companies in the United States, has received an undisclosed investment from Chicago-based investment firm LaSalle Capital.

The private-label coffee company, which maintains six roasting lines and 11 automated packaging lines within its 150,000-square-foot factory outside Seattle, will continue to be led by CEO John Gilbert, according to LaSalle.

“We are excited to embark on what we are calling ‘Cascade 3.0,’ where we plan to further expand our capabilities and build Cascade into the preeminent partner for coffee brands,” Gilbert said in an announcement from the investment firm. “LaSalle is the right partner for this next chapter at Cascade, and we look forward to leveraging their expertise in food and beverage manufacturing and alignment with management to help us achieve our goals.”

LaSalle’s investment coincides with the exit of Seattle-based investment firm Westward Partners, which originally acquired Cascade Coffee with an undisclosed investment in 2020. According to portfolios published by Westward Partners, the coffee company’s sales more than doubled from the acquisition to 2024.

Cascade Coffee was originally spun off of Everett-based Millstone Coffee in 1995 when Millstone was sold to Proctor & Gamble. Millstone was founded in 1981 by Phil Johnson, who later founded Cascade with leftover assets that were not purchased by P&G.

While the Millstone brand was put to rest by then owner J.M. Smucker in 2016, Cascade has grown to become one of the largest full-service private-label and contract roasting companies in the country, with offerings ranging from green coffee sourcing through to numerous consumer and commercial coffee packaging types. The company does not own any coffee brands.

“We could not be more excited to be partnering with John and the entire Cascade team,” LaSalle Capital Partner David Murav said in the firm’s announcement. “They have developed a best-in-class operation that we are looking forward to supporting through their next stage of growth.”

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