I think I saw this in the Herald a couple weeks ago and with the craziness of Memorial Day week, I forgot to post. But legendary brand Cafe Bustelo was sold to J.M. Smucker (company behind the Smucker’s brand) for $360 million. The three sons of the late Jose Angel â€œPepeâ€ Souto, who founded the company, sold Bustelo to the Ohio company. Bustelo was started in 1961 by Souto and he started by selling the coffee door-to-door to homesick exiles like himself. If you’re from Miami, then you know how iconic and monumental the Bustelo brand is.
J.M. Smucker is a $9 Billion company that also acquired Folgers Coffee nearly three years ago. So keeping themselves in the breakfast lane seems to be a little bit of their pace.
In an article written by NPR today, the idea is simple. “More Cuban-Americans, More Coffee”. The 2010 Census shows that the Cuban-American population rose in every state over the last decade. Some of the fastest growing communities are in North Carolina, Tennessee and Kentucky â€” all relatively close to Smucker’s headquarters in Orrville, Ohio.
So the move may very well be genius. A definite come up for a local company and iconic brand that Bustelo is. Let’s hope that the Corporate backing doesn’t alter its original place and presence in latin communities.