If you've never tried Stumptown Coffee, that's probably gonna change soon.
Berkeley, CA-based java giant Peet's Coffee & Tea announced Tuesday it's acquiring Stumptown Coffee Roasters, the wildly popular independent coffee brand based out of Portland, according to a report by The Wall Street Journal. Somewhere, a hipster swigging a $6 cold brew just did a spit-take.
As the report points out, the deal will bolster Peet's position in the premium coffee arena, and will also open Stumptown up to Peet's larger scale. However, while the company said Stumptown will continue to operate independently, it didn't mention anything about adding to Stumptown's small string of 10 stores across the US -- at least not yet.
"Stumptown is an innovative leader in premium and cold brew coffee, and we're excited to support and further elevate their presence while extending their reach to more consumers," Dave Burwick, president and CEO of Peet's, said in a statement.