Velvet Peanut Butter has been acquired by Atwater Brewery founder Mark Rieth — who plans to bring the brand’s production back to Detroit, where it was established nearly 100 years ago.
In a statement, Rieth, a native Detroiter, says he loved Velvet Peanut Butter as a child.
“When I learned of the opportunity to acquire the company, it just felt like something I had to do,” Rieth said in a statement. “There are lots of people like me who remember and loved that distinctive Velvet taste. With some aggressive marketing and prominent space on grocers’ shelves, I’m confident we can return Velvet back to the level of popularity it enjoyed years ago. And we can do here in Detroit, where it all began for the company.”
Velvet Peanut Butter was established in 1937 by Paul Zukerman, a Detroit truck driver who sold cases of it out of his trunk. Zukerman became known as the “Peanut Butter King” and the jars were emblazoned with the slogan, “Fresh, Pure, Delicious.”
Zukerman sold the company in 1985, and its new owners shut down Detroit operations before killing the brand entirely.
The company was revived in 2008 by Eric Bruce, who then sold it to Rieth.
“I was not planning to sell the brand until I met Mark,” Bruce said. “It has been a true labor of love to revive Velvet Peanut Butter and shepherd the brand for the past 16 years. Now is the perfect time for me to step away and turn this iconic brand over Mark for him to lead the exciting next chapter.”
Rieth founded Detroit’s Atwater Brewery in 1997 and sold it to Molson Coors in 2022. He later acquired Lansing Brewing Company and has founded other beverage-related business ventures.
He says he plans to follow Velvet Peanut Butter’s original recipe and increase distribution regionally and nationally.
“What I like about Velvet is its high-quality product and clear branding,” Rieth says. “Of course, it’s the company’s deep ties to Detroit which motivated me to move forward with the acquisition. I relish the opportunity to grow nostalgic Detroit brands and think the opportunity with Velvet will not only be a lot of fun, but also a profitable endeavor.”
More information about the company is available from velvetpeanutbutter.com.
