LOS ANGELES, January 20, 2021 – Charger Investment Partners (“Charger”) today announced the completion of a growth investment in B&B Coffeehouse (dba “Beans & Brews“) in partnership with the company’s founders, Jeff and Kevin Laramie on December 31, 2020. Financial terms of the transaction were not disclosed.
Headquartered in Sandy, Utah, Beans & Brews Coffeehouse is a leading operator and franchisor of coffeehouses in Utah, Idaho, and Nevada and a wholesaler of specialty roasted coffee beans utilizing its unique High-Altitude Roasting™ process. Family owned since 1993, Beans & Brews Coffeehouse has grown from its first location in Salt Lake City almost 30 years ago to a successful company-owned and franchise operation with 58 locations throughout the Western United States. Beans & Brews Coffeehouse aims to deliver the industry’s best customer service and workplace along with uniquely smooth coffee served in a friendly neighborhood setting.
“Beans & Brews Coffeehouse has differentiated itself under the Laramie family’s leadership by offering an extraordinary experience through a commitment of providing freshly roasted coffee and premium ingredients, offering a comfortable atmosphere that is warm and welcoming, and supporting the communities in which employees and customers live and work,” said Kim Pollack, co-founder and partner at Charger. “We look forward to supporting the Laramie family and continuing to build upon the outstanding coffee experience they have established over the last three decades.”
“Since 1993, Beans & Brews has been more than a passion – it has been part of our family,” said Jeff Laramie, CEO of Beans & Brews. “Serving our guests each day is the reason we get up in the morning and the opportunity to create the highest quality products makes us proud. We have enjoyed customer and employee loyalty as a result of our passionate culture, demonstrated by baristas from our earlier days that now lead parts of our growing operations today. We are confident that Charger, with their expertise and insights, will accelerate the company’s growth while maintaining our core values.”
As part of the transaction, Charger’s operating partner, Chris Dull, will join the Board of Directors. Chris has extensive experience as a CEO and board member working with outstanding businesses in the food & beverage and franchise space. “This is an excellent partnership between the Beans & Brews team and Charger, and I am excited to be part of the company’s expansion to bring this outstanding brand to new markets.” Winston & Strawn LLP acted as legal advisor to Charger; BKD Capital Advisors served as financial advisor to Beans & Brews; Dentons Durham Jones Pinegar acted as legal advisor to Beans & Brews.
About Charger Investment Partners
Based in Hermosa Beach, California, Charger Investment Partners is a private equity firm that invests in dynamic small and mid-sized companies primarily in the industrial, services, and consumer industries that can benefit from Charger’s partnership and value enhancement expertise. The firm’s principals have decades of experience successfully building market-leading companies utilizing an operationally focused, flexible capital approach that encompasses a variety of transaction types including ownership transitions, corporate carve-outs, and recapitalizations. For more information, please refer to the Charger website at www.chargerinv.com.