Investment Will Spur La Colombe’s National Expansion

John Jordan, GlobeSt.com
Locally-based coffee retailer La Colombe has secured $28.5 million worth of private investment, which will help finance plans to open approximately 100 new cafes across the United States over the next five years.

Todd Carmichael, who founded La Colombe in 1993 with friend and business partner JP Iberti, says the deal was signed Aug. 31 following months of discussions with investors, according to the Daily Coffee News. “Thank God I never have to do that again,” Carmichael says.

La Colombe is currently putting the finishing touches on its coffee headquarters, lab, bakery and distillery in the Fishtown section of Philadelphia. The project could be finished by late next week.

Carmichael says seven new leases for retail locations have already been signed, most of which are in Philadelphia, Washington, DC, Chicago and New York where it already has a presence. However, he notes that his firm is also looking at opening locations in Boston, Baltimore, and parts of the West Coast.

“We’ve found some great locations focused in our area but we’re always shopping,” Carmichael says. “I really respect what is going on in California. Having the ability to be involved in New York, Chicago and L.A.—I’d love to be in those communities.”
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