Nestlé USA has sold Chameleon, a brand of organic coffee, less than five years after buying it.
Founded in Austin, Texas, in 2010, Chameleon Organic Coffee claims to be “Austin’s original purveyors of bottled cold-brew coffee.” Their products also include ground and whole-bean coffee and concentrates. Nestlé bought Chameleon in 2017 for an undisclosed sum.
Now Chameleon is being sold to Systm Foods, a specialist in “sustainable, socially conscious” food & beverage products. Terms were not announced. Systm Foods is a joint partnership of “brand platform” Systm Brands and PowerPlant Partners, an investment firm specializing in plant-based foods and other sustainable products.
"Chameleon sits at the center of our company's investment ethos – premium products that deliver clean, great-tasting ingredients with a purpose," Andy Fathollahi, CEO of Systm Foods, said in a statement.