Nestlé now owns Majority Interest in Blue Bottle .
The Swiss group Nestlé now has a majority stake in the US coffee chain Blue Bottle. This was announced by the food giant last week. According to Business Insider, a sum of just under 500 million dollars (420 million euros) was paid for a 68 percent stake of the company with a market value of more than 700 million dollars. The coffee chain will continue being able to act independently and pursuing innovative strategies. The coffee produced by the company, which was founded in 2002 in Oakland, is known for its high-quality coffee roasts and the logo of the bulbous blue bottle. The approximately 30 coffee shops in the American cities pose serious competition for Starbuck's who is the US-Amercian top dog. Well-known investors, including Twitter founder Evan William, had already invested in the company, which bears the name of the first Viennese coffee house, in recent years. Blue Bottles CEO Bryan Meehan stated that the company's goal was "to secure a sustainable future for Blue Bottle Coffee that would enable it to flourish for many years to come".