Blackstone Announces Growth Investment in 7 Brew
February 14 2024 - 8:00AM
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240213971497/en/
For 7 Brew: ICR for 7 Brew Coffee 7BrewPR@icrinc.com For
Blackstone: Mariel Seidman-Gati mariel.seidmangati@blackstone.com
(917) 698-1674
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