The acquisition marks a new chapter for Philz as the company expands and continues its mission to deliver a high-quality, personalised coffee experience to its loyal customers.
Philz Coffee has entered into a definitive agreement to be acquired by Freeman Spogli. The transaction is expected to close on Aug. 6, 2025.
Philz will continue to be led by CEO Mahesh Sadarangani and the existing leadership team. Philz’ management, team members, and customer-centred values remain at the heart of its vision.
What began as a single cafe in the Mission District has grown to 77 cafes across California and Chicago, with an integrated CX via its wholesale and online business segments.
Philz’s reputation for coffee quality is upheld through its local roasting facility located in Oakland, California, which supplies all its stores and products, and is key to producing its signature blends.
“This is an exciting new chapter for Philz as we expand and continue our mission to deliver a high-quality, personalised coffee experience to our loyal customers,” said Mahesh Sadarangani, CEO of Philz Coffee.
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“Freeman Spogli’s deep experience in the consumer and restaurant sectors, along with their collaborative approach, makes them an ideal partner as we look to expand our footprint and continuously improve our offerings. We’re proud of the strong foundation we’ve built and look forward to accelerating our growth together.”
Brad Brutocao, Partner at Freeman Spogli, said, “Philz is a beloved brand with a passionate customer base, distinctive, handcrafted coffee offerings, and significant room for expansion.”
“We are committed to preserving and building upon Philz’s rich heritage and will continue delivering the unique, authentic coffee experience that makes the brand so special.”
“We believe the company is well-positioned for meaningful growth in the attractive and growing speciality coffee category, especially with Mahesh and the talented Philz team to help drive this new chapter of success.”
Piper Sandler & Co. acted as exclusive financial advisor to Philz Coffee, and Kirkland & Ellis LLP served as its legal counsel. Morgan, Lewis & Bockius LLP acted as legal counsel to Freeman Spogli.
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