Arizona's Press Coffee Buys 70 Hectare Panama Farm October 2024
Date
10/8/2024 4:16:42 AM
(MENAFN- Newsroom Panama)
Phoenix-based specialty coffee roaster and retailer Press Coffee
recently acquired a 70-acre coffee Farm in Western Panama.
With the farm purchase, the company plans to launch an“Estate” line of coffees, which will be added to Press's existing“Allocation” line
of high-end, limited release coffees.
The terms of the farm Acquisition have not been made public. The acquisition represents a significant operational milestone for the company, which has grown into a flagship roaster.
There are 13 standalone Arizona cafes and coffee bars in six Sprouts grocery locations
since its founding in 2008.
“It helps us expand our commitment to quality, sustainability, and deepen our connection to the farm,” Press Coffee Owner Jason Kyle, who first invested in the company in 2015, said in a recent announcement of the purchase.“This farm will allow us to offer even richer, more distinctive coffees and we're excited to bring them to our customers.”
The farm sits within the highlands of the Volcán Barú area near Boquete in Western Panama, a region that is known for high-quality arabica production among traditional and boutique coffee farms. Green coffee companies such as Hacienda La Esmerelda
and Ninety Plus
have helped drive the region's international reputation for high-end Geisha-variety production. Notably, an Alexandria, Virginia-based roasting company called Via Volcán offers coffees from its own farm in the same Volcan Baru region as Press's new estate.
Press Coffee said that its new estate spans a 70-hectare plane, with elevation reaching between 1,800 to 2,300 meters.
Such vertical integration remains rare among small businesses in the U.S. specialty coffee roasting industry, presumably due to risks and inherent economic challenges associated with coffee production. In most recent cases, vertical integration in the specialty realm
has moved downstream, with established family farms in Latin America precipitating the opening of coffee shops or roasteries in the U.S.
According to 'Press', coffees from the estate will be coming to each of the company's Phoenix metro locations as drip coffees or in whole-bean bags. Limited-edition estate offerings will be offered online quarterly through the Allocation program, which borrows its name from the high-end wine industry. Says 'Press'“Like fine wine, each coffee harvest from our Panama farm will be as unique as the weather, soil and other natural changes that affect the beans.”
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