BIRMINGHAM, Ala. – Royal Cup, Inc., a leading importer, roaster and distributor of premium and specialty coffees and teas, has finalized an agreement to acquire Richgood Gourmet LLC, manufacturer and distributor of Icebox Coffee, a New Orleans-inspired line of shelf-stable, cold-brew coffees, available in ready-to-drink and concentrate forms.
Bebe Goodrich, founder and former president of Icebox Coffee, will join Royal Cup as director of liquid product innovation.
“Richgood Gourmet perfectly complements Royal Cup in its commitment to innovation, product quality and excellent client service,” said Bill Smith, CEO at Royal Cup.
“Combining forces to expand our cold-brew offering and improve our ready-to-drink product mix is a strategic move.
We are excited for Bebe to join us, and are confident that her industry expertise and entrepreneurial spirit will shape the future of Royal Cup’s liquid-manufacturing processes and SKU development.”
The acquisition marks a significant evolution in Royal Cup’s long-standing B2B business model.
Since its inception, Icebox Coffee, one of the nation’s first shelf-stable, cold-brew coffees, rapidly grew its customer base through early distribution agreements with major retailers, including Whole Foods and Central Market.
From 2011 to 2016, the cold-brew coffee market segment grew by 580 percent.
Today, Icebox Coffee is sold nationwide, and Richgood Gourmet supplies shelf-stable, cold-brew coffee to large retail chains for private-label use.
“Icebox Coffee has been on a tremendous growth trajectory over the past five years, and I’m immensely proud of the company we’ve built,” said Goodrich.
“Now is the perfect time for us to join Royal Cup to achieve even greater success. Royal Cup’s strength, scale and international footprint will ensure that we continue to deliver the best cold-brew coffees, teas and other all-natural, ready-to-drink beverages to our valued customers.”
In her new role, Goodrich will lead new product-development initiatives for Royal Cup’s liquid-manufacturing vertical.
All Icebox Coffee operations will relocate from Birmingham’s Innovation Depot to Royal Cup’s headquarters by year-end 2018. Royal Cup intends to retain all of Richgood Gourmet’s full-time employees.