“We are on a strong growth trajectory and are so excited to have found in Blackstone a true partner who understands our culture and whose global reach and incredible resources will enable us to reach this next stage of growth,” added John Davidson, CEO, 7 Brew.
World Coffee Portal research found that US industry leaders surveyed consider the growth of drive-thrus to be the third most important consumer trend affecting the US branded coffee shop market, behind the popularity of cold coffee and the growth of specialty coffee.
The US drive-thru market is set to achieve steady outlet growth over the next 12 months, with Oregon-based Dutch Bros and Nebraska-based Scooter’s Coffee both seeking to reach 1,000 stores by the end of the year and mid-size chain Biggby Coffee on track for 500 sites in 2025.
Additionally, larger operators are also investing in the format, with Starbucks, Panera Bread, Tim Hortons and Caribou Coffee eyeing growth opportunities in the drive-thru coffee market.
Blackstone is one of the largest private equity businesses in the world and manages over $1trn of assets and more than 230 portfolio companies – including Swedish dairy alternative brand Oatly, online dating app Bumble and skincare product Supergoop
Source: World Coffee Portal