Chameleon is a leading provider of organic, sustainably grown and ethically sourced coffee and joins the SYSTM Foods portfolio of brands, including plant-powered functional beverage brand, REBBL.
Founded in 2010, Austin-based Chameleon has become a leading organic cold brew brand in the U.S., and one of the top refrigerated cold brew brands in the country. Its current portfolio consists of multi-serve concentrates and single-serve RTD products.
According to the announcement, the transaction aligns with SYSTM Foods' strategic goals: adding high-quality, plant-based and innovative daily-use products to its omnichannel platform. Chameleon supports SYSTM Foods' shared product ethos championing better-for-you ingredients, environmental sustainability, and social responsibility.
SYSTM Foods is a partnership between SYSTM Brands and PowerPlant Partners to create a premium, impact-focused food and beverage brand platform. Led by the SYSTM Brands team, with PowerPlant Partners as the lead investor, SYSTM Foods will seek to acquire and grow leading F&B brands that aim to bring innovative formulations to market in a sustainable, socially conscious manner.
"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 the announcement.
"We're thrilled to announce the acquisition of Chameleon as a core brand, along with REBBL, for SYSTM Foods,” Mark Rampolla, founding partner, PowerPlant Partners, added in the announcement. “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.”
Fathollahi added, "We look forward to supporting Chameleon in this next phase of growth, investing in new products, and expanding distribution globally to bring its delicious, consciously-crafted cold-brew coffee to even more consumers everywhere."