Over the last few years, Huron Capital Partners, a downtown Detroit-based private equity firm that calls the
Guardian Building home, has been investing a lot of money in coffee producers. The firm recently purchased Iowa-based U.S. Roasterie through one of its partners, bringing the total number of coffe companies it owns to five.
"There is a stable and growing demand for the product," says Matt Hare, principal of
Huron Capital Partners. "The input costs were a fragment of the cost for the consumer."
The 16-year-old investment firm invested in
Ronnoco Coffee in 2012. Since then it has made four more coffee company acquisitions. The U.S. Roasterie is the latest of those acquisitions, but probably won’t be the last as the firm eyes another purchase or two before the end of the year.
"
U.S. Roasterie expands our product offering and gives us a redundant facility that gives us additional room for growth," Hare says.
Huron Capital Partners has grown steadily since its inception in 1999. It now employs 22 people after hiring three associates and analysts over the last year.
Source: Matt Hare, principal of Huron Capital Partners
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.