Blackstone Announces Growth Investment in 7 Brew
NEW YORK & FAYETTEVILLE, Ark., February 14, 2024--(BUSINESS WIRE)--Blackstone (NYSE:BX) today announced that Blackstone Growth and affiliated funds (collectively "Blackstone") have made a growth equity investment in 7 Brew Coffee, the next generation drive-thru beverage business. Blackstone’s investment seeks to help enable 7 Brew to accelerate its already-rapid expansion across the U.S., in collaboration with its premier franchise partners.
Since 7 Brew began operating its first coffee "stand" in Rogers, Arkansas in 2017, the company has been committed to serving custom drinks (more than 20,000 different combinations) while cultivating kindness and joy with every drink. Today, 7 Brew is a leading franchisor recognized as QSR Magazine’s "Breakout Brand of 2023."
John Davidson, CEO of 7 Brew, said, "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. 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."
Todd Hirsch and Katie Storer of Blackstone said, "7 Brew’s impressive growth to date is a testament to its strong team and franchisee partnerships. 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."
Jimmy John Liautaud, Founder of Jimmy John’s Sandwiches, a selling shareholder in this transaction, said "I am truly honored to have had my mentor, the legendary Jamie Coulter, ask me to help launch franchising for this exceptional brand. I am confident that the Brew Crew, management and Blackstone will continue to drive exponential growth."
Terms of the transaction were not disclosed. Friday, Eldredge & Clark, LLP served as legal counsel to 7 Brew. Simpson Thacher & Bartlett LLP served as legal counsel to Blackstone.
About 7 Brew
7 Brew is a rapidly growing coffee brand that is revolutionizing how customers experience drive-thru coffee service and think about their morning energy boost. 7 Brew serves espresso-based coffee, chillers, teas, infused energy, sodas, and more, all with an extra boost of kindness from their team. The dream of 7 Brew came alive with the first "stand" in Rogers, AR, and its seven original coffees. Now, more than 190 7 Brew stands operate across the country. For more information, visit www.7brew.com and follow 7 Brew on Instagram (@7brewcoffee), TikTok (@7brewcoffee), Facebook (facebook.com/7brewcoffee) and Twitter (@7BrewCoffee).
About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240213971497/en/
Contacts
For 7 Brew:
ICR for 7 Brew Coffee
7BrewPR@icrinc.com
For Blackstone:
Mariel Seidman-Gati
mariel.seidmangati@blackstone.com
(917) 698-1674
