Peet's Coffee To Acquire Stumptown Coffee Roasters

Emeryville, Calif., Peet's Coffee & Tea said Tuesday it has agreed to buy Stumptown Coffee Roasters of Portland, Ore., which will continue to operate independently. Terms of the deal were not disclosed. Stumptown is "one of the leading players in the fast growing ready-to-drink cold brew coffee business," Peet's said. Peet's "will continue to pursue its own growth strategy, operating 'as is' across its retail cafes, wholesale and grocery channels," the company said.