The Coffee Bean & Tea Leaf

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The Coffee Bean & Tea Leaf
Type Privately held company
Industry Restaurants
Retail coffee and tea
Founded Los Angeles, California (1963)
Founder(s) Herbert B. Hyman[1]
Headquarters Los Angeles, California, United States
Key people Sunny Sassoon, chairman
John Dawson, pres & CEO
Products Beverages, food
Revenue Increase $450 million USD (2012)
Employees 8,400 (2012)
Parent International Coffee & Tea, LLC
Website coffeebean.com

The Coffee Bean & Tea Leaf (sometimes shortened to simply "The Coffee Bean") is an American coffee chain, owned and operated by International Coffee & Tea, LLC, which has its corporate headquarters in Los Angeles, California.[2] The first outlet opened in September 1963. The chain currently has over 990 outlets in 27 countries.[3] The majority of United States locations are in Southern California; many locations outside of California are franchises. Singapore entrepreneurs Sunny and Victor Sassoon have opened locations in Southeast Asia and other parts of the world since buying the company in 1998.

History[edit]

Coffee Bean & Tea Leaf headquarters in Los Angeles, California

The firm was founded by Mona and Herbert Hyman in September 1963.[4] They opened the first store in the Los Angeles neighborhood of Brentwood. The original location closed, although a new location opened in the same building on the corner of San Vicente Boulevard and Barrington Avenue. The firm is affectionately known as The Bean among long-time customers that include many Hollywood celebrities, and was touted as a success model for the coffee and tea business in its early days.

In 1996, the Sassoons bought the franchise rights for Asia and in two years, opened 29 outlets (in Singapore and Malaysia) - almost as many as the Hymans had opened in the US until then. Singapore entrepreneurs and brothers, Sunny and Victor Sassoon and their long-time friend and business associate, Severin Wunderman, purchased the company and took it global in 1998. In 2008 Mel Elias assumed the role of president and CEO, after serving seven years as the chief operating officer of the company. Sunny Sassoon served as president and CEO from 1998 until 2008 and moved to the executive chairman position in 2008.

During 2013, a significant equity position was acquired by Advent International in partnership with CDIB Capital and Mirae Asset Private Equity. The Sassoon family will continue to own a substantial equity position in the company.[5]

Products[edit]

The firm is known for its Original Ice Blended drinks, hot and cold tea drinks and hot coffee drinks, and also sells a variety of whole bean coffees, whole leaf teas, flavored powders, and baked goods. Through its CBTL home-product line, Coffee Bean sells single-serve, capsule-based, espresso, coffee and tea machines.[6]

Coffee[edit]

The firm's coffees fall into six categories: Light & Subtle, Light & Distinctive, Medium & Smooth, Dark & Distinctive, Flavored and Reserve.[7]

Teas[edit]

The company's teas fall into seven categories: Green, Black, Oolong, Herbal Infusion, Decaffeinated, Flavored and Tea Master’s.[8]

Single serve coffee system[edit]

A single serve coffee system "CBTL" for home use was launched in the United States, Singapore, Malaysia, Philippines and Korea in 2010. It is available in department stores and retail outlets in the United States and several Asian countries.[6]

The company manufactures two current (June, 2013) models, both having twin pressure systems that provide 15 bar (espresso) / 3.5 bar (coffee and tea).[9] The machines utilize proprietary capsules that contain coffee, espresso, flavored coffee, tea or hot chocolate.[10]

Tea Granita[edit]

During March 2014, the firm introduced its Tea Granita beverage in Pear Berry and Passion Fruit. The Pear Berry is made with The Coffee Bean & Tea Leaf's non-caffeinated Swedish Berry tea.[11][12]

Holiday drinks[edit]

Coffee Bean & Tea Leaf in Los Feliz, California

The company has several holiday drinks:

  • Chai Latte
  • Chocolate and Amaretto Espresso Con Pannas
  • Chocolate Hazelnut Latte
  • English Toffee Latte
  • Gingerbread Latte
  • Pumpkin Latte
  • Red Velvet Hot Cocoa
  • Salted Caramel or Cinnamon Mocha Cappuccino
  • Winter Dream Tea Latte

The firm also produces a limited edition Holiday Blend Coffee and Winter Dream tea.[13][14][15][16]

Halal and kosher[edit]

At all stores, all the company's products are certified as kosher. At least one location meets the stricter standard of cholov yisroel in their dairy products. The company's beverages are also halal.[17]

Charity[edit]

The company contributes to local charities in the communities served by its stores, as well as the communities where the coffee and tea they source is grown.[18]

Partnerships[edit]

On May 28, 2013 Hilton Worldwide announced they had signed an exclusive agreement for the company to provide in-room coffee and tea packages for all Hilton properties in North America, South America, and Central America.[19]

Green Mountain Coffee Roasters announced on May 29, 2013 that they had partnered with the company to create a K-Cup for Keurig single-cup brewing systems to be available in a variety of channels in the US starting Spring 2014.[20]

See also[edit]

References[edit]

  1. ^ "Our Heritage". The Coffee Bean & Tea Leaf. Retrieved 2009-09-14. 
  2. ^ "Caring Cup." The Coffee Bean & Tea Leaf. Retrieved on January 15, 2012. "The Coffee Bean & Tea Leaf 1945 So. La Cienega Blvd. Los Angeles. CA 90034"
  3. ^ Franchising at official website (accessed 2014-02-22).
  4. ^ [1][dead link]
  5. ^ "Private Equity Gets a Cup of Coffee Bean & Tea Leaf - MoneyBeat - WSJ". The Wall Street Journal. . On January 2, 2014, John Dawson assumed the position of president and CEO.
  6. ^ a b Retail Asia Online
  7. ^ Gourmet Whole Bean & Ground Coffee | The Coffee Bean & Tea Leaf Coffee
  8. ^ Specialty Whole Leaf Tea | The Coffee Bean & Tea Leaf Tea
  9. ^ CBTL Single Serve Coffee Makers & Milk Frothers | CBTL
  10. ^ CBTL Capsules - Coffee and Tea Single Serve Pods | CBTL
  11. ^ {http://www.brandeating.com/2014/03/news-the-coffee-bean-new-tea-granitas-for-2-dollars-next-week.html | The Coffee Bean & Tea Leaf New Tea Granita for $2 Next Week}
  12. ^ {http://www.broadwayworld.com/bwwfood-wine/article/The-Coffee-Bean-Tea-Leaf-Redefines-Refreshment-With-Its-New-Beverage-The-Tea-Granita-20140303#.UyYglK1dXMB | The Coffee Bean & Tea Leaf Redefines Refreshment With Its New Beverage The Tea Granita}
  13. ^ A Look at the Coffee Bean & Tea Leaf Fall 2012 Menu |Foodbeast
  14. ^ The Coffee Bean & Tea Leaf: $1 Holiday Beverages (November 8th) – Hip2Save
  15. ^ Best Drink at The Coffee Bean & Tea Leaf: Winter Dream Latte | TheDailyMeal: Best and Worst Holiday Coffee Drinks | Comcast.net
  16. ^ Holiday drinks are on tap at Coffee Bean & Tea Leaf | SmartBrief
  17. ^ BruneiDirect.Com
  18. ^ [2]
  19. ^ Now Brewing: The Coffee Bean & Tea Leaf® Introduces Exclusive In-Room Collection | Hilton Worldwide Global Media Center
  20. ^ Green Mountain Coffee Roasters, Inc. Welcomes The Coffee Bean & Tea Leaf to the Keurig Family (NASDAQ:GMCR)

Further reading[edit]

External links[edit]