Shakopee-based Cameron’s Coffee and Distribution Company was acquired Sept. 18 by Grupo Nutresa, a Colombia-based food processing company, for $113 million, according to a recent press release from Grupo Nutresa.
Cameron’s headquarters off Highway 169 in Shakopee, which has been fully operational since March 2009, will continue to operate locally, and its leadership team will work alongside Grupo Nutresa professionals, the release said.
The 40-year-old Minnesota-based coffee company was previously owned by Goldner Hawn, L.P., a private equity fund based in Minneapolis.
“Through Cameron’s Coffee, Grupo Nutresa strengthens its international presence in a fast-growing and dynamic category,” Carlos Ignacio Gallego, Grupo Nutresa’s CEO, said in the company’s press release.
Cameron’s Coffee sold $72 million worth of coffee in the last year. The change in ownership, according to Grupo Nutresa’s release, will allow Cameron’s Coffee — which delivers coffee beans across the country at a price cheaper than competitors Caribou and Starbucks but more expensive than Folgers — to grow into a global coffee brand.
Cameron’s Coffee is the fastest-growing brand in the coffee industry, according to the release. The transaction will allow Grupo Nutresa to settle more deals with retailers across the country and the world.
“The Goldner Hawn team has been a great partner to us and supported significant investment in both production and human capital to allow Cameron’s to flourish,” Bob Waldron, CEO of Cameron’s Coffee, said in a press release from Goldner Hawn. “We are excited to take this next step with Grupo Nutresa and to leverage their scale and experience in coffee.”
Waldron also said the new ownership is expected to aide in Cameron’s growth, which means he expects to hire more people in the coming years to accommodate that growth.