Posted on 02/10/2022 7:40:00 PM PST by lasereye
Black Rifle Coffee (BRCC) - Get Black Rifle Coffee Report shares jumped 30% in their first day of trading on the New York Stock Exchange.
The Austin coffee-bar chain bills itself as a company founded "to support veterans, active duty military [and] first responders" and "to [connect] consumers with great coffee and a unique brand experience."
Black Rifle is a unit of Authentic Brands, the closely held New York brand-management company. The company went public via a merger with a special purpose acquisition company, or SPAC, affiliate of SilverBox Capital.
The new company is BRC Inc., trading under the symbol BRCC. The shares closed Thursday at $15.64.
The company says that it aims to hire 10,000 veterans as it expands across the U.S. The merger will give Black Rifle about $150 million cash to fund its strategy.
As part of its efforts, Black Rifle is donating more than 530,000 shares to a foundation that aims to improve the lives of veterans, active soldiers and first responders.
The company was founded in 2014 by a Green Beret, Evan Hafer, who leads as chief executive.
It was long a favorite of Americans on the conservative end of the spectrum, with its merchandise co-opted over the last two years by extremists including Kyle Rittenhouse, who killed two Black Lives Matter protestors in Wisconsin in 2020.
An interview the company's leadership did with the New York Times last summer seemed to dampen that appeal, however, as they sought to distance themselves from political extremism.
Salt Lake City-based Black Rifle produces dark roast under brand names like Blackbeard's Delight and Freedom Fuel, as well as medium roast under the names Thin Blue Line and Coffee Or Die.
It also publishes a magazine under the title Coffee or Die.
Black Rifle Coffee currently operates 16 stores, which it calls outposts, with eight of them franchised and eight corporate-owned. The stores are located in Texas, Utah, Oklahoma, Florida, Georgia and Tennessee.
It said expects to more than double that total to 36 this year and double it again to 78 in 2023.
Its focus states for expansion: Arizona, North Carolina, Virginia and Maryland.
The company in its investor presentation notes that it has an omnichannel model, including a direct-to-consumer subscription business "with low churn."
It also has a growing wholesale business, a canned ready-to-drink product, and a growing base of coffee bars.
The company estimates revenue for 2021 was $230 million, 40% above the 2020 figure. Gross margin is also estimated at 40%.
For 2022, Black Rifle pegs revenue at $311 million with a gross margin of 41%. The figures for 2023 are $430 million and 44% margin.
SPACs, or blank-check companies, are formed for the express purpose of finding and merging with an operating partner. The idea is to speed the operating company to the public markets and avoid the extended process of a traditional initial public offering.
Hafer needs to keep a sock stuffed in his mouth and maybe his company will do fine. Some of us have not forgotten the Rittenhouse thing. The way Hafer expressed it to the NYT, though, well, I’m not sure I’m good enough to stay in their database and if he does decide to manually delete entries as he said he would, mine won’t be one of them because I’m outta there.
A Black Rifle Coffee is currently under construction on a road near my workplace. It’s two doors down from a Dunkin’, which is three doors down from a Starbucks. A Dutch Brothers opened just this week several doors down in the opposite direction from Black Rifle, with a local coffee shop, The Boozy Bean, in between them.
Five coffee shops in a half-mile or less—and all on the same side of the road.
Ridiculous.
Black Rifle picked a stupid place to build.
I thought that company turned out to be libtard frauds? 🤪
Why is there a story about this? Unless they’re lying.
I heard something about that.
I’m pretty pissed that it hasn’t affected their bottom line. Conservatives shouldn’t buy this crap coffee.
“It was long a favorite of Americans on the conservative end of the spectrum, with its merchandise co-opted over the last two years by extremists including Kyle Rittenhouse, who killed two Black Lives Matter protestors in Wisconsin in 2020.”
Nice paragraph, should Kyle need a bit of ‘spending money’.
I heard or saw something about that too, but can’t remember where or when. I hope someone here knows.
I believe were several articles here about them.
This company grifts Americans. Why do people buy anything from this company?
Can’t support them.
“I thought that company turned out to be libtard frauds?”
Yes.
All the foo-foo coffee outfits can go to hell. Coffee is coffee, should cost about a quarter a cup. Black Rifle Coffee Doesn’t Matter.
“thought that company turned out to be libtard frauds? 🤪”
You are correct.
I didn’t know they were around anymore. A CIA founder, and flipped the finger to Kyle Rittenhouse because he wore their shirt.
Big talking con artist cowards trading on patriotism who fled the battlefield when things got hot. I’ll drink Sanka before I drink their sellout swill.
It was on Varney, FOX Business this morning.
Black RINO Coffee.
You have to realize, many conservatives are as much sheep as those simply looking to see what the government directives are that day.
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