Wednesday 06 July 2022

49th Parallel Coffee Roasters and Claridge announce strategic partnership

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VANCOUVER, Canada — 49th Parallel Roasters Inc. (“49th”), a leading specialty grade coffee company, announces its strategic partnership with Claridge Inc., the family office of Stephen Bronfman. Thanks to the Claridge investment, 49th will be broadening its product portfolio, expanding its footprint, and extending its reach to new distribution channels and markets.

Founded in 2004 in Vancouver, 49th engages in direct trade sourcing, micro-roasting, and selling outstanding speciality grade coffee products. From humble Pacific Northwest roots, through word-of-mouth, its products have won over the most demanding baristas in a dozen countries around the world by crafting exceptional, sustainably-sourced coffee; from coast-to-coast in Canada, from Los Angeles to New York City in the U.S. and increasingly beyond in Asia, Europe, and the Middle East.

The original Canadian third wave coffee roaster has been ushering the industry forward. Since its inception, 49th has established a Direct Trade program with farmers, focused on transparency, curated the finest origins, and ensured upmost product freshness through packaging, roasting small lots, and frequent new product launches.

Authenticity and community-driven thinking are foundational values; 49th has been publishing its Sourcing Transparency Report since 2014, contributing to the development of the coffee culture and growth of the independent specialty coffee industry through barista trainings, as well as driving traffic and contributing to local vitality as its retail locations act as connective tissue in neighbourhoods.

Strategic Shared Goals

As demand for wellness beverages with functional benefits and high-quality culinary experiences continues to grow, the coffee category is experiencing a premiumization globally. Pierre Boivin, President and Chief Executive Officer of Claridge shares that investing in 49th is consistent with their strategy to proactively identify growing companies supported by consumer demand fundamentals.

“We are celebrating our 15th year in business thanks to the dedication of our employees and the loyalty of our customers and business partners. This is an exciting new chapter opening up in our entrepreneurial journey as Claridge’s involvement will help propel our company into our next growth phase,” state Vince Piccolo, CEO of 49th and Michael Piccolo, Head Roaster of 49th. “This strategic partnership will enable us to stay true to our roots while delivering exceptional coffee and a great experience across all touch points to our customers.”

“Claridge was attracted by the brand’s great foundation and history. I truly enjoy partnering with passionate entrepreneurs animated by a deep sense of purpose, who create high quality products generating a warm feeling. The combination of the founders’ entrepreneurial spirit, the expertise and devotion of its employees along with Claridge’s strong strategic and operational support is promising for the future of the company,” says Stephen Bronfman, Executive Chairman of Claridge.

“At Claridge, we source inspiration from similar shifts observed in craft beer and spirits to establish a national specialty coffee leader. Canadians rank among the biggest coffee drinkers in the world and are thirsty for an elevated experience. 49th is the flag bearer of this movement in Canada. Despite an influx of investments in the sector, we believe the cream will ultimately rise to the top,” says Pierre Boivin.

49th Parallel reaches coffee consumers through a growing network of independent specialty coffee shops, specialty grocers such as Whole Foods and Urban Fare in Western Canada, 49th Parallel Cafes, and directly from the roaster’s online store: https://49thcoffee.com.

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