Blackstone boost to fuel national expansion for Fayetteville-based 7 Brew
by February 14, 2024 12:23 pm 1,448 views
New York-based asset manager Blackstone Inc. has invested in Fayetteville-based 7 Brew Coffee to help accelerate the drive-thru beverage company’s expansion across the United States. Terms of the deal were not disclosed in a Wednesday (Feb. 14) news release.
Blackstone Growth and affiliated funds provided the growth equity investment in the deal that included Jimmy John’s Sandwiches founder Jimmy John Liautaud. The investment is expected to bolster 7 Brew’s growth across the nation in collaboration with its franchise partners.
“We are on a strong growth trajectory thanks to our outstanding team, the Brew Crew, 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,” said 7 Brew CEO John Davidson. “Blackstone brings everything we are looking for to help serve our customers and support our franchisees — industry and market knowledge, franchisee relationships, data science, operations and real estate expertise.”
7 Brew opened its first coffee shop in Rogers in 2017 with seven original coffees. Since then, it’s expanded to 190 shops across the United States and serves custom beverages that include more than 20,000 different drink combinations. QSR Magazine named 7 Brew its Breakout Brand of 2023.
“7 Brew’s impressive growth to date is a testament to its strong team and franchisee partnerships,” said Todd Hirsch and Katie Storer of Blackstone. “We are excited to partner with this business that is redefining the out-of-home coffee experience by marrying a personal, human-centric customer service experience with premium products and exceptional efficiency.”
Brian Cornyn of Blackstone said, “This investment illustrates Blackstone’s thematic focus on investing in strong franchise businesses alongside highly skilled operators. We are proud to bring Blackstone’s experience and global resources to fuel 7 Brew’s next stage of growth.”
Liautaud is a selling shareholder in the deal.
“I am truly honored to have had my mentor, the legendary Jamie Coulter, ask me to help launch franchising for this exceptional brand,” Liautaud said. “I am confident that the Brew Crew, management and Blackstone will continue to drive exponential growth.”
Friday, Eldredge & Clark LLP represented 7 Brew in the deal. Blackstone was represented by Simpson Thacher & Bartlett LLP.