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The Coffee Bean & Tea Leaf history
The Coffee Bean & Tea Leaf company history timeline
The company was founded by Herbert Hyman in September 1963, as a coffee service for offices.
In the summer of 1987 an employee brought a blender to a Westwood store where he mixed together ice, coffee extract and chocolate powder, paving the way for the company's signature Ice Blended drinks.
In 1991, when it was first planning to expand into Los Angeles, Starbucks tried to purchase the firm, but Hyman turned them down.
In 1996, the Hymans sold the Asian franchise rights to Singaporean brothers Victor Sassoon and Sunny Sassoon.
In 1998, the Sassoons, along with longtime friend Severin Wunderman, purchased the parent company, International Coffee & Tea LLC, from the Hymans, and took it global.
In 2009, Mel Elias (Sassoon's brother-in-law) assumed the role of president and CEO of the company, after spending seven years as chief operating officer.
In September 2013, a significant equity position in Coffee Bean was acquired from International Coffee & Tea by US-based Advent International, in partnership with South Korea-based Mirae Asset Private Equity and Taiwan-based CDIB Capital.
Hyman died on April 28, 2014, at the age of 82.
On July 24, 2019, Jollibee Foods Corporation purchased The Coffee Bean and Tea Leaf for $650 million.
© 2022 Super Magnificent Coffee Company doing business as The Coffee Bean & Tea Leaf®…
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The Coffee Bean & Tea Leaf competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Starbucks | 1971 | $36.2B | 349,000 | 13,057 |
| Caribou Coffee | 1992 | $262.0M | 7,000 | 1 |
| BIGGBY COFFEE | 1995 | $12.0M | 175 | 20 |
| It's A Grind Coffee House | 1994 | - | 720 | - |
| Dutch Bros Coffee | 1992 | $1.3B | 16,500 | 165 |
| PJ's Coffee | 1978 | $2.3M | 50 | 112 |
| Community Coffee | 1919 | $270.0M | 650 | 11 |
| Scooter's Coffee | 1998 | - | 960 | 190 |
| Peet's Coffee | 1966 | $983.0M | 5,000 | 165 |
| HMSHost | 1995 | $670.0M | 10,001 | 449 |
The Coffee Bean & Tea Leaf history FAQs
Zippia gives an in-depth look into the details of The Coffee Bean & Tea Leaf, including salaries, political affiliations, employee data, and more, in order to inform job seekers about The Coffee Bean & Tea Leaf. The employee data is based on information from people who have self-reported their past or current employments at The Coffee Bean & Tea Leaf. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by The Coffee Bean & Tea Leaf. The data presented on this page does not represent the view of The Coffee Bean & Tea Leaf and its employees or that of Zippia.
The Coffee Bean & Tea Leaf may also be known as or be related to INTERNATIONAL COFFEE & TEA, LLC, International Coffee & Tea LLC, International Coffee & Tea, LLC, Super Magnificent Coffee Company and The Coffee Bean & Tea Leaf.