Beverage brands tend to either last forever of flame out quickly.
Coca-Cola was first sold in 1886 while Pepsi came a few years later in 1893, although it wasn’t called by that name at first.
“In the small town of New Bern, North Carolina, local pharmacist Caleb Bradham invented the original formula of what would become Pepsi-Cola. First called ‘Brad’s Drink,’ this popular beverage was crafted with a mix of sugar, water, caramel, lemon oil, kola nuts, nutmeg, and other additives,” according to a PepsiCo website.
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Both products have changed their formulas over the years, but the brands are enduring.
There are, of course, some famous flameouts in the soda space. Virgin Cola, an attempt by Richard Branson to take on Pepsi and Coke stopped production in 2007, and Jolt Cola, an attempt to create a high-caffeine rival to the big two, ended in 2011 (although it has been brought back multiple times).
In the coffee space, most of the biggest brands have a deep history. Chock Full O’ Nuts was introduced in 1932, while Folgers was founded in 1850, and Maxwell House falls in the middle having been introduced in 1892. One coffee brand, however, has almost as long a past as Folgers, but its future has become very murky.
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Coffee has long been one of the most popular beverages in the world.
Image source: Shutterstock
Coffee brand from 1853 faces a tough future
Mercon Coffee may not have the name recognition of Maxwell House, Folgers, or Chock Full O’ Nuts, but it has a deep history.
“It all started with love. The year was 1853 and Moises Baltodano had just graduated from the University of Pennsylvania as a medical doctor. Although the United States held a bright future for the young man, he returned to his native Nicaragua — where the only woman he would ever love awaited,” the company shared on its website.
Baltodano worked as a doctor giving away his services to his community. That meant that he had to find another way to make a living.
“He still needed to provide for his wife and household, which led him to purchase his first coffee farm as a way to make a living. It was then, nearly 170 years ago, that coffee began percolating in the Baltodano bloodline, becoming a passion that would be passed down through the generations,” according to the company.
Operating under a variety of different names, the company had many iterations as it spread around the world. It now describes itself as “a global, green coffee supplier with the purpose of building a better coffee world.”
Mercon Coffee filed for Chapter 11 bankruptcy in Dec., and after some snags, it has had its plan approved by the U.S. Bankruptcy Court for the Southern District of New York.
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Mercon’s Chapter 11 bankruptcy ends with a liquidation
Mercon’s bankruptcy liquidation plan faced opposition from the U.S. Trustee’s Office which argues against the provisions that released potential claims against 19 corporate insiders.
“A New York bankruptcy judge confirmed the liquidation plan for Mercon Coffee Corp., ruling against rewarding corporate insiders with litigation release for sticking through the Chapter 11 case,” WMTXLaw reported.
That decision by Judge Michael Wiles cleared the path for Mercon to liquidate its remaining assets in Nicaragua, Brazil, and Vietnam.
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“Mercon, alongside ten affiliates, filed for Chapter 11 in December, citing $363.3 million in debt due to COVID-19 disruptions, inflation, and a nine-year low in coffee futures,” the website added.
It remains unknown who will end up owning the Mercon name and claims to its long history.
