Historically high coffee prices, new regulations such as EUDR, climate change and increased demand of high-quality coffees squeezed coffee businesses of all sizes this year, creating what many characterized as a “challenging operating environment.”
While some coffee companies — even some in the coffee-recession-proof United States — did ultimately fold, the business of coffee carried on largely unabated with fresh venture capital funding, and mergers and acquisitions galore.
EUDR has officially been delayed, yet numerous coffee companies have found themselves on the wrong sides of other laws, facing allegations of labor violations, deceptive practices or market manipulation.
Continuing DCN’s 2024 Year in Review, here’s a look back at some of the biggest coffee business news stories. For all the latest coffee business news, subscribe to the DCN Newsletter.
Mergers and Acquisitions
European Firm Verdane Acquires Majority Stake in Cropster
Verdane, which is based in Norway, said its investment in the coffee software company will further support Cropster on its “growth path,” which the firm said may include organic growth, as well as mergers and acquisitions… read more
Daily Coffee News photo.
De’Longhi Combines La Marzocco and Eversys for New Coffee Machine Group
De’Longhi said the deal will “be able to create synergies and cross-selling opportunities,” for La Marzocco and Eversys… read more
JDE Peet’s Acquiring Caribou Coffee Roasting Operation in $260 Million Deal
The transaction also includes the transfer of Caribou Coffee’s production roasting operations in Minnesota, as well as all of Caribou’s office coffee and foodservice contracts… read more
A Caribou Coffee sign. Daily Coffee News photo by Nick Brown.
StoneX Acquires Mercon Specialty, Launches StoneX Specialty Coffee
The acquisition comes approximately six months after Mercon Coffee Group filed for Chapter 11 bankruptcy and was subsequently allowed to remain in business in order to sell assets and pay off creditors…. read more
Energy Trader Hartree Plans to Acquire the Owner of Volcafe
The acquisition includes ED&F Man’s three commodities business units: Volcafe (coffee); ED&F Man Liquid Products (molasses, animal feeds and fish oil); and ED&F Man Sugar. The financial terms of the acquisition have not been disclosed… read more
Maryland’s Ceremony Coffee Now Part of FairWave Collective
According to the announcement, the deal involves all six of Ceremony Coffee’s retail coffee shops, its Annapolis roasting operation, administrative offices, its cold brew and ready-to-drink business and its e-commerce business… read more
Ceremony Coffee second location, which opened in Baltimore in 2015. Public domain photo.
Coffee Holding Co. Acquires Longtime NY Private Label Roaster Empire
Made through a newly created Coffee Holding Co. subsidiary called Second Empire, the acquisition includes all of Empire’s existing inventory, equipment, accounts, customer list and intellectual property… read more
With Acquisition in WA, Dillanos Plans Batdorf & Bronson Revival
The acquisition will soon result in the revival of the Batdorf & Bronson Coffee Roasters brand, which was folded into the Dancing Goats name in 2022… read more
Simonelli Group Acquires Drip Coffee Machine Maker 3Temp
For Simonelli Group, whose portfolio of brands and equipment remains largely focused on espresso brewing and grinding, the acquisition of fresh-faced 3Temp represents a significant expansion into the world of filter/drip coffee brewing… read more
Regulation and Markets
European Parliament Officially Postpones EUDR Enforcement
The enforcement delay comes as tropical deforestation continues at an alarming rate of approximately 3.7 million hectares (9.1 million acres) per year, or the equivalent of nearly 10 American football fields per minute… read more
The EU Commission headquarters in Brussels, Belgium.
Fair Trade USA Founder Paul Rice Resigning as CEO
An influential figure in the fair trade movement over the past quarter century, Paul Rice is resigning as CEO of Fair Trade USA… read more
El Salvador President Bukele Launches Coffee Brand with US Business Ties
El Salvador President Nayib Bukele has launched a new high-end coffee brand called Bean of Fire, targeting the United States market for sales… read more
Keurig Charged with Deceptive Recyclability Claims, Pays $1.5 Million
The United States Securities and Exchange Commission (SEC) today charged Keurig Dr. Pepper with making inaccurate statements regarding the recyclability of its single-use plastic K-Cups… read more
Report: US Out-of-Home Coffee Drinking Highest Since Pre-Pandemic
Coffee consumption outside the home has reached its highest level since January 2020, according to the latest edition of the United States National Coffee Association‘s biannual consumer trends report… read more
Vocal Alliance Launches, Urges EU Regulatory Compliance Over Pushback
A new consortium of civil society organizations under the acronym VOCAL (Voice of Organizations in Coffee Alliance) launched today, challenging the coffee industry’s prevailing positions on regulatory compliance… read more
US Department of Labor Sues New York Coffee Chain Over Overtime Pay
A New York City specialty coffee chain called White Noise Coffee is facing a lawsuit from the United States Department of Labor (DOL) alleging violations related to overtime pay and record keeping… read more
Qargo Coffee Owners Charged with Rare Franchise Rule Violation
The United States Federal Trade Commission (FTC) last week accused the owners of the Miami-based coffee franchise Qargo Coffee of violating a rarely cited franchise law while racking up $1.25 million in fees from 59 franchisees in multiple states… read more
Labor Violations Alleged in Starbucks and Nestlé Supply Chains in China
Independent field investigations in China’s Yunnan Province found labor violations at coffee farms that supply coffees purchased and certified as sustainable by coffee giants Starbucks and Nestlé, according to a new report from two labor watchdog groups… read more
Dutch Trader Sucden Coffee Surrenders $670K After ICE Allegations
Dutch green coffee trader Sucden Coffee agreed to a settlement with the Intercontinental Exchange (ICE) following a notice that it “may have” violated a rule designed to prevent coffee market manipulation… read more
Investments, Openings and Closings
Botrista Closes $120 Million Round Led by Jollibee
The latest round brings the San Francisco-based equipment company’s total capital raised to $120 million since its inception in 2017… read more
Westrock Coffee Opens Massive Beverage Factory in Arkansas
Arkansas-based Westrock Coffee unveiled a massive coffee roasting and ready-to-drink (RTD) beverage factory and development lab last week… read more
Courtesy photo.
Royal Coffee Buys Big Warehouse and Industrial Complex in Oakland
California-based coffee trading company Royal Coffee has purchased a new warehouse, distribution and manufacturing complex totaling 103,500 square feet in Oakland… read more
Coffee and Grocery Chain Foxtrot Abruptly Closes All 33 US Stores
Specialty coffee shop and boutique grocery chain Foxtrot abruptly closed all 33 of its locations throughout the United States yesterday, giving little notice to hundreds of employees who are now without work… read more
Luckin Coffee Opens China’s Largest Coffee Roastery
Chinese coffee roasting and retail giant Luckin Coffee this week opened a massive $120 million roasting plant in Kunshan… read more
Café William Opens Monumental All-Electric Roaster in Quebec
With support from numerous government agencies, Quebec, Canada-based coffee company Café William has opened what it claims is the world’s “first 100% electric industrial roaster.” … read more
Press image by CNW Group/Café William.
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