Blue Bottle Buys Tonx
Mat Honan in Wired:
The San Francisco Bay Area-based Blue Bottle, along with other formerly regional roasters like Portland’s Stumptown, Chicago’s Intelligentsia, and North Carolina’s Counter Culture helped kick off a brewed coffee movement in the United States. And while all have grown beyond their original city limits, none have really threatened to become the next Starbucks, or even Chipotle. Given its recent investment round, however, along with its purchase of Handsome Roasters in Los Angeles, Blue Bottle is clearly looking to get big. Tonx immediately gives Blue Bottle a much better Web and app capability than it now has.
It’s also a good deal for Tonx, which was attempting to raise more money to purchase its own coffee roaster (it currently has a contract deal where it rents one on the weekends) and open a store front. While neither announced a price, Tonx did abandon a $4 million fundraising round it had been pursuing recently. Presumably, the deal would be on par with that. It’s a big win for the three year-old roaster that’s based in Los Angeles, but lives all over the internet.
Some good news for two of my favorite roasters.