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Another Austin cult favorite scooped up by beverage giant

Another Austin cult favorite scooped up by beverage giant

Chameleon cold brew iced coffee
Austin-based Chameleon Cold-Brew has been purchased for an undisclosed sum. Courtesy of Photo courtesy of Chameleon Cold-Brew

Big brew news: Austin's homegrown Chameleon Cold-Brew has been by purchased by Nestlé for an undisclosed price. In a statement, the coffee company vowed to remain Austin-based and independent. 

For those of us still mourning the sale of Topo Chico to Coca-Cola, the news of Chameleon's acquisition may come as a bitter surprise. After all, this isn't your average Joe coffee company. Since its founding in 2010, Chameleon has become the cold brew of choice in restaurants, bars, and personal refrigerators across Austin.

It's exactly this cult following, says co-founder and CEO Chris Campbell, that propelled the brand into the international spotlight. "Chameleon has been extremely fortunate to grow from our hometown base of cold-brew lovers in Austin to a national brand in just a few short years,” said Chris Campbell, co-founder and Chameleon Cold-Brew CEO in a statement. Our shared values around product integrity and commitment to sustainability made Nestlé the best choice to enable Chameleon Cold-Brew to accomplish our goals for the future.” 

In addition to its cold brew concentrates, ready-to-drink coffee, coffee kegs, and whole beans, Chameleon says it plans on expanding its offerings as soon as 2018. Partnering with the Swiss manufacturing giant also allows the company, which sold more than four million bottles in 2016, to expand its market reach. 

This is the second coffee company Nestlé has acquired this year. In September, it took a majority share in the Oakland-based cult favorite, Blue Bottle Coffee Company.