Intelligentsia has sold a majority stake to Peet's Coffee & Tea. Co-founders Doug Zell and Emily Mange, along with co-owner Geoff Watts, will continue to own a significant stake in the company and "stay actively involved" in operations.
Peet's Coffee & Tea also recently signed an acquisition agreement with Stumptown Coffee Roasters, the popular Portland coffee purveyors, making two acquisitions for Peet's Coffee & Tea in the third-wave coffee movement, a communal push to sell high-quality coffee.
A press release states that Intelligentsia will be able to continue to work independently, but will gain access to the scale and resources that Peet's Coffee & Tea can offer. We hope this means Intelligentsia can continue their creative partnerships around the city, especially alongside Goose Island with their annual bourbon county coffee stout.
Zell started his career at Peet's and says he's excited to be working with them again.
Intelligentsia has six coffee bars across the city:
Lakeview East, 3123 N Broadway
Monadnock Building, 53 W Jackson Blvd
Millennium Park, 53 E Randolph St
Logan Square, 2642 N Milwaukee Ave
Old Town, 1233 N Wells St
Wicker Park, 1609 W Division St