Philz Coffee close to closing deal to sell to private equity firm for $145M
Los Angeles-based private equity firm Freeman Spogli & Co. is in the process of buying Philz Coffee for $145 million, according to documents shared with stockholders and obtained by Mission Local. Philz board members, which include former CEO Phil Jaber and his son, Jacob Jaber; representatives from investment firms Summit Partners and TPG Growth; and CEO Mahesh Sadarangani will receive payouts or bonuses from the deal. Those who hold common stock, like employees who bought stock during or aft