>> For some coffee aficionados, Blue Bottle is a must visit on trips to the San Francisco Bay area. But now the specialty coffee bar, started over a decade ago in Oakland California by a freelance musician, weary of commercial coffee enterprise, and stale coffee, is joining the commercial coffee empire.
On Thursday, Nestle, the Swiss food giant that brings us Nescafe Instant Coffee and Nespresso, sayings it's bought a majority stake in Blue Bottle Coffee. Making it's entry into the world of expensive specialty coffee bars. It didn't say how much it paid. Reuters correspondent, Lisa Bartlein.>> Nestle is trying to crack the millennial market who grew up on Starbucks, and is now looking for an entirely new experience.
Blue Bottle intelligentsia, and other third wave coffee companies have come up with a lot of the things that we're now starting to see, Cold Brew, Nitro, and now even Cold Brew Espresso.>> Blue Bottle operates coffee bars in the Bay area, and has branched out to New York, Los Angeles, DC, and even Tokyo.
And it expects to have 55 coffee bars by the end of 2017, nearly doubling its number from the end of last year. Nestle's acquisition comes as the market for high-end specialty coffee grows. Coffee giant Starbucks last year launched its attempt to cater to those coffee drinkers willing to shell out for a cup of joe with its reserve brand.
It comes with big roasters, and tasting rooms in some of the new stores around the world.