SYSTM Foods acquires Chameleon Organic Coffee

Newport Beach, Calif.-based SYSTM Foods, an impact-focused food and beverage brand platform, announced the acquisition of Chameleon Organic Coffee from Nestlé USA Inc. Chameleon is a leading provider of organic, sustainably grown and ethically sourced coffee and joins the SYSTM Foods portfolio of brands, including plant-powered functional beverage brand, REBBL.

The transaction aligns with SYSTM Foods’ strategic goals of adding high-quality, plant-based and innovative daily-use products to their omnichannel platform. Chameleon supports SYSTM Foods’ shared product ethos championing better-for-you ingredients, environmental sustainability and social responsibility.

SYSTM Foods is a partnership between SYSTM Brands and PowerPlant Partners to create a premium, impact-focused food and beverage (F&B) brand platform. Led by the SYSTM Brands team, with PowerPlant Partners as the lead investor, SYSTM Foods will seek to acquire and grow leading F&B brands that aim to bring innovative formulations to market in a sustainable, socially conscious manner.

“Chameleon sits at the center of our company’s investment ethos ― premium products that deliver clean, great-tasting ingredients with a purpose,” said Andy Fathollahi, CEO of SYSTM Foods.

Mark Rampolla, founding partner pf PowerPlant Partners, added: “We’re thrilled to announce the acquisition of Chameleon as a core brand, along with REBBL, for SYSTM Foods. In addition to an incredible product line, the brand has experienced significant growth over the past few years and its social goals align perfectly with our beliefs as investors. We can’t wait to provide the team all the support they need to energize and accelerate the brand's vision and growth.” BI

Hazelwood Demesne Ltd., owner of the Lough Gill Distillery, County Sligo, Ireland, announced its acquisition by the Sazerac Co., Louisville, Ky. The Sazerac Co. will fully develop a 100-plus acre site, the original demesne of Hazelwood House, to create a world-class whiskey facility and visitor attraction. Once complete, Lough Gill Distillery hopes to welcome up to 150,000 visitors annually and will create a home place for Sazerac’s Irish Whiskeys, Paddy and Michael Collins. Additionally, Sazerac will grow the footprint of Lough Gill Distillery through increasing the distillery’s capacity, adding warehousing capacity and expanding production and bottling lines. All current Lough Gill Distillery team members will remain with the business, and it is expected that Sazerac will increase employment after the expansion. As part of the acquisition, Sazerac will continue the development of the Athrú brand, including global distribution.

Zevia names new CEO

Raleigh, N.C.-based Next Century Spirits’ Caddy Clubhouse Cocktails, a new to market golf inspired ready-to-drink cocktail line, announced expanded distribution into multiple new markets across the country. Caddy Cocktails can now be found in select retailers across Colorado, Kansas, Arkansas, Georgia, South Carolina, Tennessee, North Carolina, Connecticut, New Jersey, Massachusetts and New York - with a wider nationwide rollout planned through 2022. “We have been able to quickly get Caddy Cocktails out into 11 markets, with more coming online every month,” said Chief Commercial Officer of Next Century Spirits, Anthony Moniello, in a statement. “Our goal remains to drive distribution and activation across every golf course in the country and become a part of the fabric of golf culture ― and we’re off to a great start.”

Los Angeles-based Zevia announced a CEO succession plan. Paddy Spence has served as the brand’s CEO for 12 years after he acquired the company in 2010. During his tenure as CEO and member of the Zevia Board, the company has achieved great success, with a 31% net sales compound annual growth rate from 2010 through 2021, it states. Spence noted that he is “extremely proud” of what the company has accomplished.

Spence will still hold his position as Chair of the Company’s Board of Directors. Amy Taylor, president, will succeed Spence as CEO beginning Aug. 1. Taylor has been a member of the board since March 2021 and as president since June 2021.

“Amy and I have worked side-by-side during Zevia’s transformation, and she has been instrumental in developing and implementing our strategies for driving future growth and profitiability,” Spence said in a statement. “She has been deeply involved in leading the business across sales, marketing, human resources and operations functions.”

In a statement from Zevia, Taylor noted she is “excited and honored” to be Zevia’s next CEO, especially “during such a transformative time for our company with exciting opportunities ahead.”

“I look forward to continuing to work alongside Paddy, the board and the experienced leadership team we now have in place to further strengthen the brand and deliver critical consumer and global health needs, to realize our mission by scaling the business and driving profitable growth and value creation,” Taylor said. BI