Tierra Nueva, a Miami-based coffee confectionery technology company, majority owned by ProspEquity Partners, a Tampa, Florida-based emerging private equity firm, made public the agreement between Market Basket and Dunkin’.
“We are pleased to partner with Tierra Nueva and fellow Massachusetts-based brand Dunkin’ to place Dunkin’ Coffee Thins on our shelves to add variety to our customer offerings and provide another stream of top-line revenue for our stores,” said Joe Garon, buyer for Tewksbury, Massachusetts-based Market Basket. “Dunkin’ is known for finding new ways to engage its customers as America’s favorite beverage-led, on-the-go brand.”
“We continue to see aggressive interest by retailers and consumer packaged goods giants in Coffee Thins,” said Matthew Insolia, CSO of Tierra Nueva. “It began this past May at the Sweets & Snacks Expo in Chicago and continued through the IFT Show this past June. Since then, we have rolled out our edible Coffee Thins product aggressively as demand continues to skyrocket.”
“The continued expansion of Tierra Nueva’s Dunkin’-branded Coffee Thins throughout the U.S. retail market is a key objective in ProspEquity Partners’ and Tierra Nueva’s global strategy to create a new coffee experience that will drive significant consumer demand and solid returns for our business partners,” said Christopher D. Ramonetti, managing partner and CEO of ProspEquity Partners and Tierra Nueva board chair.
Market Basket is a chain of 79 supermarkets in New Hampshire, Massachusetts and Maine. It celebrated its 100th anniversary in 2017. Market Basket was founded in 1917 by Greek immigrants Athanasios and Efrosini Demoulas as Demoulas Market.
Tierra Nueva is a technology company established by the Cruz family more than 130 years ago. The company says it has developed a one-of-a-kind process to make the world’s only edible coffee using 100 percent of the coffee bean.