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Nestle: buys Chameleon cold-brew coffee; terms undisclosed.

(CercleFinance.com) - Nestle, the world's biggest food group, agreed to buy US refrigerated cold-brew coffee maker Chameleon for an undisclosed amount, the company said on Monday.

Nestle said the acquisition is in line with its focus on the high-growth food and beverage categories of coffee, petcare, infant nutrition and bottled water.

Founded in 2010, Chameleon makes organic, refrigerated cold-brew products in formats ranging from ready-to-drink bevarages to whole bean coffee.

The firm's products are distributed at Whole Foods, Target, Safeway, amongst other stores.

In a research note sent this morning, analysts at Bryan Garnier say the acquisition will enable Nestle to expand in the cold-brew coffee category, a segment that grew 80% in the 12 months ending February 2017.

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