Speciality coffee brand Philz Coffee has agreed to be acquired by Freeman Spogli, a growth investor, with the deal set to close on 6 August 2025. Philz Coffee, founded in 2003 by Phil Jaber and Jacob, operates 77 cafés in California and Chicago, along with a roasting facility in Oakland. The company will continue under CEO Mahesh Sadarangani’s leadership.

Freeman Spogli, with a history of investing in consumer brands, sees potential for Philz Coffee’s expansion. Partner Brad Brutocao expressed commitment to preserving Philz’ heritage and expanding its unique coffee offerings. The partnership aims to drive growth in the specialty coffee market, leveraging Mahesh and the Philz team for success.

Read more at Yahoo Finance: Philz Coffee to be acquired by Freeman Spogli in strategic deal