Investment will help Stumptown Coffee expand


A new investment will help Stumptown Coffee Roasters expand into new markets, but the company hasn’t sold.

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A new investment will help Stumptown Coffee Roasters expand into new markets, but the company hasn’t sold, says director of operations Matt Lounsbury.

The company plans to build a new headquarters in Southeast Portland, as well as expand its café on Southeast Division Street to add an iced-coffee brewery.

Duane Sorenson, founder of the nine-store chain, “still owns the company,” Lounsbury said. “He is still the CEO, and there will be no change in structural management or day-to-day operations at Stumptown.”

Lounsbury was responding Wednesday to the social media storm that kicked up after an Esquire.com blogger, claiming he’d been sworn to secrecy about his sources, wrote Tuesday that Sorenson had sold out to Wall Street.

Instead, Lounsbury said, Sorenson simply had accepted an investment from a “friend,” whom he declined to identify.

Read more at OregonLive.com.

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