SYSTM Foods has added ethically sourced coffee brand Chameleon Coffee to its portfolio. | Photo credit: Chameleon Coffee

SYSTM Foods has announced the acquisition of Chameleon Organic Coffee from Nestlé USA, adding the ethically sourced coffee brand to its environmentally sustainable and social responsibility-focused food and beverage portfolio. 
 

Founded in 2010, Texas-based Chameleon has become a leading organic cold brew brand in the US, both as multi-serve concentrates and a single-serve RTD product.  

It was acquired by Nestlé USA in 2017 for an undisclosed sum, with the Swiss food & beverage giant stating at the time that Chameleon supported its 'strategy of capturing opportunities provided by new consumer trends'.

Andy Fathollahi, CEO of SYSTM Foods, said that the acquisition would enable Chameleon to ‘energise’ its vision and progress into a new phase of growth. 

"Chameleon sits at the centre of our company's investment ethos – premium products that deliver clean, great-tasting ingredients with a purpose. We look forward to supporting Chameleon in this next phase of growth, investing in new products, and expanding distribution globally to bring its delicious, consciously-crafted cold-brew coffee to even more consumers everywhere," he said. 

SYSTM Foods, a partnership founded in 2021 between SYSTM Brands and growth equity firm PowerPlant Partners, states its aim is to acquire and growing leading F&B brands to bring innovative formulations to market in a sustainable, socially conscious manner. 

World Coffee Portal research shows iced beverages racked up $10.4bn of sales in US coffee shops pre-Covid-19, with cold brew continuing to gain significant mainstream traction among operators during the pandemic.

In 2021, Starbucks revealed that cold beverage sales significantly outpaced hot drinks across the US, accounting for 74% of total beverage sales in its fiscal third quarter.