Stumptown Still Owns Stumptown, and There's Going to Be More of It
Following all the hoo-ha about the ownership of Stumptown Coffee Roasters, Duane Sorensen, the founder of the Portland, Oregon-based company, tells Diner's Journal that he is "still in control" of Stumptown, though he's brought in an investor to help him "do the things I want to do."
That investment partner is Alexander Panos, the managing director of TSG Consumer Partners, a private equity firm that had a hand in, among other brands, Vitaminwater. Such corporate involvement has miffed people who harbor strong opinions about coffee, but Sorensen told the Times that Panos's involvement will allow him to add a bottling facility to its roaster in Red Hook and open two cafés in Brooklyn sometime this fall. Sorensen also wants to open roasters in San Francisco and Chicago, and thanks to Panos, he probably will.
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