Royal Cup, an importer and roaster of specialty coffees and teas, has announced the acquisition of Richgood Gourmet, a manufacturer of cold-brew coffee and owner of the Icebox Coffee brand.
The founder of Icebox Coffee, Bebe Goodrich, will remain in the company as director of liquid product innovation, leading new product development.
Royal Cup’s CEO Bill Smith said: “Combining forces to expand our cold-brew offering and improve our ready-to-drink product mix is a strategic move. We are excited for Bebe to join us, and are confident that her industry expertise and entrepreneurial spirit will shape the future of Royal Cup’s liquid-manufacturing processes and SKU development”.
The transaction is said to be significant for Royal Cup in terms of diversification away from the traditional coffee business. Icebox Coffee will add to the firm’s portfolio of ready-to-drink coffee and concentrates.
Icebox Coffee is sold throughout the US in major retailers, such as Whole Foods and Central Market. The company also produces cold brews for private labels.
Icebox Coffee operations will reportedly relocate to Royal Cup’s headquarters by the end of 2018.