US Market News
1月前
Royal Cup Completes Acquisition of Farmer Brothers Coffee Co.May 5, 2026 11:33 AM
Business Wire Combined company unites nearly 250 years of industry expertise to create a leading nationwide route-based coffee, tea and beverage services platform Royal Cup Coffee and Tea (“Royal Cup”), a leading manufacturer and distributor of premium coffee and tea, today announced the completion of its acquisition of Farmer Brothers Coffee Co. (NASDAQ: FARM) (“Farmer Brothers” or the Company), a national coffee roaster, wholesaler and distributor. “Today officially marks the beginning of a new chapter for Royal Cup and Farmer Brothers — one built on decades of combined experience and a genuine dedication to the people and customers we serve,” said Chip Wann, President and Chief Executive Officer of Royal Cup. “I couldn't be more proud of both organizations, and I look forward to the work ahead as we come together and grow." The transaction brings together two established coffee and tea organizations, expanding Royal Cup’s national reach and strengthening its presence across foodservice, hospitality and retail channels. It creates a cohesive route-based distribution and equipment service network spanning multiple channels – including healthcare, convenience and private label – across the United States, Caribbean, Mexico and Canada. The combined company will operate under the Royal Cup name, be headquartered in Birmingham, Alabama and led by Mr. Wann. As part of the closing, Farmer Brothers President and Chief Executive Officer John Moore, Chief Financial Officer Vance Fisher and Vice President and General Counsel Jared Vitemb will be exiting the company. “This highly complementary acquisition accelerates Royal Cup’s strategy to build a scaled, national platform in the coffee industry,” said Wali Bacdayan, Partner at Braemont Capital. “Since investing in Royal Cup, we have supported its execution of a disciplined, sustainable growth plan. The closing of this acquisition represents a significant milestone, and we look forward to continuing to support the team as they move into this next phase.” Under the terms of the definitive agreement, Royal Cup acquired all outstanding shares of Farmer Brothers in an all-cash transaction. Stockholders approved the merger agreement proposal at a special meeting of Farmer Brothers stockholders on May 1, 2026, in connection with the previously announced definitive agreement between Farmer Brothers and Royal Cup. Trading of the Farmer Brothers common stock on NASDAQ Global Exchange was halted pre-market open on May 5, 2026. Stephens Inc. served as the financial advisor and Kirkland & Ellis LLP acted as legal advisor to Royal Cup and Braemont Capital. North Point Mergers and Acquisitions, Inc. served as the financial advisor and Winston & Strawn LLP acted as the legal advisor to Farmer Brothers. About Royal Cup Coffee and Tea Royal Cup Coffee and Tea manufactures and distributes high-quality coffee and tea in a variety of flavors and formats. Since 1896, Royal Cup's reach extends throughout the United States, Mexico, Canada and the Caribbean, serving customers in the food service, hospitality, convenience, office and specialty coffee markets. Built on strong history, Royal Cup's values are the heart of their work. Read more at www.royalcupcoffee.com. About Farmer Brothers Coffee Co. Founded in 1912, Farmer Brothers Coffee Co. is a national coffee roaster, wholesaler, equipment servicer and distributor of coffee, tea and culinary products. The company’s product lines include organic, Direct Trade and sustainably produced coffee, as well as tea, cappuccino mixes, spices and baking/biscuit mixes. Farmer Brothers Coffee Co. delivers extensive beverage planning services and culinary products to a wide variety of U.S.-based customers, ranging from small independent restaurants and foodservice operators to large institutional buyers, such as restaurant, department and convenience store chains, hotels, casinos, healthcare facilities and gourmet coffee houses, as well as grocery chains with private brand coffee and consumer branded coffee and tea products and foodservice distributors. The company’s primary brands include Farmer Brothers, Boyd’s Coffee, SUM>ONE Coffee Roasters, West Coast Coffee, Cain’s and China Mist. You can learn more at Farmerbros.com. About Braemont Capital Braemont Capital is a relationship-driven investment firm that partners with entrepreneurs, family business owners, and management teams to capitalize on key growth catalysts. The firm employs a thematic investment strategy focused on high-growth opportunities where differentiated insights and experience provide a competitive advantage. The strategy leverages proprietary knowledge, deep industry expertise, and real-time market intelligence to guide sourcing, diligence, and value creation. The statements contained in this release and statements that Royal Cup may make orally in connection with this release that are not historical facts, are forward-looking statements. These forward-looking statements involve risks and uncertainties and investors are directed to the risks discussed in documents filed by Farmer Brothers with the U.S. Securities and Exchange Commission. View source version on businesswire.com: https://www.businesswire.com/news/home/20260505424216/en/ Braemont Capital
Gagnier Communications
Dan Gagnier/Lindsay Barber
Braemont@gagnierfc.com Royal Cup
Markstein
Danny Markstein
danny@markstein.co Original: Royal Cup Completes Acquisition of Farmer Brothers Coffee Co.
subslover
3年前
CONGRATS! Farmer Brothers announces agreement to sell direct ship business and Northlake, Texas facility to TreeHouse Foods
Approximately $100 million sale expected to advance the company’s transformation plan and commitment to direct store delivery sector
NORTHLAKE, Texas, June 07, 2023 (GLOBE NEWSWIRE) -- Farmer Brothers Company (NASDAQ: FARM), a leading roaster, wholesaler, equipment servicer and distributor of coffee, tea and other allied products, announced today it has entered into a definitive agreement to sell its direct ship business, including its Northlake, Texas facility to TreeHouse Foods, Inc. for approximately $100 million, subject to customary purchase price adjustments.
The company expects to use the proceeds from the sale to pay down outstanding debt associated with its asset-based lending (ABL) and retire its term loan. The sale will increase Farmer Brothers’ balance sheet flexibility and allow it to focus on execution, improving margins and driving strategic growth in the direct store delivery (DSD) and key account sales channels.
“Exiting the direct ship space will allow us to focus almost exclusively on DSD, which is our most profitable and highest growth potential business, while also assuring our valued direct ship customers are well-served by a national leader,” said Farmer Brothers President and Chief Executive Officer Deverl Maserang. “With a sole focus on DSD, we will be able to realize even greater internal efficiencies and cost savings, while also better serving our largest, most profitable customer base.”
The sale is subject to customary closing conditions and is currently expected to close within the next 60 days. It will include the transition of approximately 180 Farmer Brothers team members to TreeHouse Foods as TreeHouse Foods moves to begin operations at the Northlake, Texas facility.
At closing, Farmer Brothers will transition the entirety of its DSD production operations to its Portland, Oregon roasting and production facility and will continue existing relationships with third-party roasters for additional capacity. The company’s corporate headquarters will remain in Northlake, Texas, where it will continue to lease office space at its current location. Farmer Brothers’ DSD business sells coffee, tea, spices and breakfast/brunch products through a wholly owned national network of 80 independent branches, five distribution centers and nearly 240 routes, reaching 45,000 delivery points annually. Following the sale of its Northlake, Texas facilities, Farmer Brothers expects its annual revenue will be approximately $350 million with vastly improved product margins.
“Our shift to a DSD-focused organization will allow us to further increase internal efficiency, decrease our operational cost and allow us to enjoy higher margins,” said Farmer Brothers Chief Financial Officer Scott Drake. “In addition, proceeds from the sale will allow us to solidify our financial position by recapitalizing the company, which gives us flexibility to explore additional growth opportunities.”
Winston & Strawn LLP is acting as Farmer Brothers’ legal advisor for the transaction.
About Farmer Brothers
Founded in 1912, Farmer Brothers is a national coffee roaster, wholesaler, equipment servicer and distributor of coffee, tea and culinary products. The company’s product lines, include organic, Direct Trade and sustainably produced coffee. With a robust line of coffee, hot and iced teas, cappuccino mixes, spices and baking/biscuit mixes, Farmer Brothers delivers extensive beverage planning services and culinary products to its U.S.-based customers. It serves a wide variety of customers, from small independent restaurants and foodservice operators to large institutional buyers, such as restaurant, department and convenience store chains, hotels, casinos, healthcare facilities and gourmet coffee houses, as well as grocery chains with private brand coffee and consumer branded coffee and tea products, and foodservice distributors.
Headquartered in Northlake, Texas, Farmer Brothers generated net sales of $469.2 million in fiscal 2022. The company’s primary brands include Farmer Brothers, Artisan Collection by Farmer Brother, Superior, Metropolitan, China Mist and Boyd’s.
About TreeHouse Foods
TreeHouse Foods, Inc. is a leading private label food and beverage manufacturer in North America. Our purpose is to engage and delight – one customer at a time. Through our customer focus and category experience, we strive to deliver excellent service and build capabilities and insights to drive mutually profitable growth for TreeHouse and our customers. Our purpose is supported by investment in depth, capabilities and operational efficiencies, which are aimed to capitalize on the long-term growth prosp