Boulder-based VC firm sells investment in coffee company to Nestlé

BOULDER — Venture capital firm Boulder Food Group, which invests in early-stage food and beverage companies, has sold its investment in a cold brew coffee company to Nestlé.

Chameleon Cold-Brew Coffee was founded in 2010 and sold more than four million bottles in 2016. The company is based in Austin.

Terms of the transaction were not disclosed.

“Chameleon is the market leader in the organic cold brew coffee space, and its innovative product offerings have helped raise cold brew from a niche category to the forefront of one of the fastest growing segments in food and beverage,” said Tom Spier, founder and managing partner of BFG, in a prepared statement. “We are truly appreciative of the opportunity to partner with (co-founder and CEO) Chris Campbell and his wonderful team.”

 

BOULDER — Venture capital firm Boulder Food Group, which invests in early-stage food and beverage companies, has sold its investment in a cold brew coffee company to Nestlé.

Chameleon Cold-Brew Coffee was founded in 2010 and sold more than four million bottles in 2016. The company is based in Austin.

Terms of the transaction were not disclosed.

“Chameleon is the market leader in the organic cold brew coffee space, and its innovative product offerings have helped raise cold brew from a niche category to the forefront of one of the fastest growing segments in food and beverage,” said Tom Spier, founder and managing partner of BFG, in a prepared statement. “We are truly appreciative of the opportunity to partner with (co-founder and CEO) Chris Campbell and his wonderful team.”