SYSTM Foods, a partnership between SYSTM Brands and PowerPlant Partners to create a food and beverage brand platform, has acquired Chameleon Organic Coffee from Nestle USA. Financial terms were not disclosed. Founded in 2010, Austin, Texas-based Chameleon’s organic coffee offerings includes ready-to-drink cold-brew varieties, cold-brew concentrates, both whole milk and oat milk cold-brew lattes, kegs, cold-brew kits, and whole bean and ground coffee. “Chameleon sits at the center of our company’s investment ethos — premium products that deliver clean, great-tasting ingredients with a purpose,” said Andy Fathollahi, chief executive officer of SYSTM Foods.
In addition to Chameleon, SYSTM owns REBBL, an organic beverage company that creates plant-based elixirs. SYSTM acquired REBBL in May. “We’re thrilled to announce the acquisition of Chameleon as a core brand, along with REBBL, for SYSTM Foods,” said Mark Rampolla, founding partner of PowerPlant Partners. “In addition to an incredible product line, the brand has experienced significant growth over the past few years and its social goals align perfectly with our beliefs as investors. We can’t wait to provide the team all the support they need to energize and accelerate the brand’s vision and growth.”