Farmer Brothers Coffee Announces Plan to Explore Strategic Alternatives

Core Viewpoint - Farmer Bros. Co. has initiated a strategic review process to explore options for maximizing shareholder value, engaging independent financial and legal advisors to assist in this evaluation [1][3]. Group 1: Strategic Review Process - The company has formed a strategy committee composed of independent directors to evaluate a range of strategic alternatives aimed at enhancing shareholder value [3]. - North Point Mergers and Acquisitions, Inc. has been engaged as the financial advisor, while Winston & Strawn LLP will serve as legal counsel during this process [3]. - There is no set timetable for the review process, and the company will not disclose further developments until deemed appropriate [4]. Group 2: Operational Improvements - Over the past two years, Farmer Bros. has made significant strides in transforming its operations and improving business performance, particularly following the 2023 sale of its direct ship business [2]. - The company believes that the current timing is suitable for exploring additional options to maximize shareholder value [2]. Group 3: Company Overview - Founded in 1912, Farmer Bros. Co. is a national coffee roaster, wholesaler, and distributor of coffee, tea, and culinary products, with a diverse product line including organic and sustainably produced coffee [5]. - The company serves a wide range of U.S.-based customers, from small independent restaurants to large institutional buyers, and its primary brands include Farmer Brothers, Boyd's Coffee, and others [6].