Upper Michigan-based Velodrome Coffee Company has been acquired by MQT Hospitality, the owner of Marquette-based 231 West Patisserie and the Cruisin’ Coffee.
The MQT businesses had been longstanding clients of Velodrome Coffee, which was founded by Brice Sturmer with a 1-kilogram roaster in a tight Marquette shop in 2017 before eventually expanding to a larger roastery supporting three branded cafes, wholesale accounts and a commercial equipment business.
Velodrome and MQT declined to disclose the financial terms of the acquisition. Sturmer no longer holds an ownership stake in Velodrome and is continuing on as an employee for a short term, DCN confirmed.
MQT partners Matthew Beardsley, Erin Beardsley and Iver Johnson “will continue to operate Velodrome with the same team, branding, and operations,” according to the company. Velodrome had 28 employees at the time of the acquisition.
“We have a hard time saying no to good opportunities, and we have felt this would be a great fit for a long time based on shared values and attention to detail both in product and customer service,” Matthew Beardsley told DCN. “I’m not sure I’ve ever met someone who hustles like Brice, and it has been really motivating to be around. We are excited to be the new stewards of the brand.”
The deal includes Velodrome wholesale roasting, equipment sales and service, and three retail locations, including the downtown Marquette shop, the Ishpeming shop and a new shop in Houghton at the Michigan Tech University campus.
Sturmer told DCN that the acquisition is the “culmination of years of working side by side” with the MQT leaders.
“Our businesses have supported each other for years and worked in tandem in our small market in the Upper Peninsula of Michigan,” Sturmer said. “I have thoroughly enjoyed starting and establishing Velodrome, but was feeling burnt out on running a business at this scale, and Matt and his business partner Iver really thrive on it. So I expressed to them it was time for a change on my end, and they were naturally a great organization to take it on.”
A specialty coffee trailblazer in the U.P., Velodrome Coffee has maintained a direct-sourcing approach to green coffee buying since its inception, focusing on long-term relationships with farmers. The brand has historically not offered blended or regional coffee products, instead boasting single-farm coffees.
The cycling-themed brand’s current roster of coffees includes a washed-process coffee from Sigri Estate in Papua New Guinea, a washed-process coffee from the San Luis El Volcancito farm in Guatemala and a washed-process coffee from the Finca El Paraiso farm in Colombia.
Comments? Questions? News to share? Contact DCN’s editors here.
Related Posts
Nick Brown Nick Brown is the editor of Daily Coffee News by Roast Magazine.
