Westrock Coffee Company reports developments in its integrated coffee, tea, flavors, extracts and ingredients platform. Company updates commonly address Beverage Solutions and Sustainable Sourcing & Traceability results, customer demand across retail, foodservice, restaurant, convenience store, CPG and hospitality channels, and production progress at its Conway, Arkansas extracts and ready-to-drink facility.
Recurring news also covers responsible sourcing commitments, coffee and tea supply-chain conditions, financial outlook updates, credit agreement changes and convertible-note financing. The company’s operating model includes coffee sourcing, supply chain management, product development, roasting, packaging and distribution for beverage customers in the United States and international markets.
Westrock Coffee Company (NASDAQ: WEST) announced a partnership with Tempus Realty Partners to construct a 530,000-square-foot distribution center in Arkansas. The facility will be fully utilized by Westrock Coffee after its completion, expected by the end of 2023. This modern center will support the company's expanding operations, including product packaging from its nearby manufacturing facility. Key features include 36-foot clear heights and 72 dock doors. Company officials expressed enthusiasm about the center's potential to enhance service efficiency and meet growing product demand while reinforcing Westrock Coffee's commitment to the Central Arkansas community.
Westrock Coffee Company (NASDAQ: WEST) announced its participation in the 25th Annual ICR Conference, scheduled from January 9-11, 2023 in Orlando, Florida. CEO Scott Ford and CFO Chris Pledger will present on January 9 at 1:00 p.m. ET, with a live webcast available on the Company’s Investor Relations website. Westrock Coffee is a leading provider of integrated coffee and tea solutions, servicing various industries globally. The company operates in 10 countries and sources from 35 origins. Archived webcasts will be accessible post-event.
Westrock Coffee reported a 27% increase in net sales for Q3 2022, totaling $230.3 million, driven by a rise in single-serve cup volumes. However, the company faced a net loss of $13.0 million, up from $3.9 million in Q3 2021, largely due to acquisition and restructuring costs. Adjusted EBITDA grew by 33% to $17.9 million, reflecting improved expense management. The company is accelerating Phase II expansion of its Conway, AR facility and acquired Kohana Coffee to enhance its RTD capabilities. Guidance for 2022 net sales is now set between $850 million and $890 million.
Westrock Coffee Company (NASDAQ: WEST) has held a groundbreaking ceremony for a new roasting to ready-to-drink facility in Conway, Arkansas, set to be the largest of its kind. The 524,000 square foot facility will enhance the company’s ability to provide innovative beverage solutions and will feature a product development lab. The project is expected to create new job opportunities and will strengthen Westrock's position as a leading provider of coffee, tea, and RTD products in the U.S. as it serves over 20 million cups daily.
Westrock Coffee Company announced the appointment of Nicolas Lorenz as Executive Vice President of Manufacturing and Cedric Smith as Plant Manager at its Conway, Arkansas facility. With over 25 years of experience, Lorenz will oversee product manufacturing while Smith will manage the new facility's operations for various packaging solutions. Both leaders are expected to enhance the company's manufacturing capabilities to meet growing customer demand, supporting Westrock's commitment to provide ethical beverage solutions.
Westrock Coffee Company (NASDAQ: WEST) will release its Q3 2022 financial results on November 14, 2022, following market closure. A live earnings conference call is scheduled for 4:15 p.m. EST the same day. Interested participants can register for the call through a provided link, and an audio webcast will be available on the Company’s Investor Relations website. Westrock Coffee is a leading provider of integrated coffee, tea, and flavors solutions, sourcing products from 35 countries and operating in 10 countries worldwide.
Westrock Coffee Company (NASDAQ: WEST) announced its participation in the FHA-HoReCa World Expo, taking place in Singapore from October 25-28. The Company will showcase innovative beverage solutions such as Black Tea Refreshers, Coffee Energy Drinks, and Nitro-Based Beverages. With a recently expanded facility in Johor Bahru, Malaysia, Westrock Coffee aims to enhance its service capacity across the APAC and MENA regions. Notably, the Company serves 13 of the top 25 quick service restaurants and provides over 20 million cups of coffee daily.
Westrock Coffee Company (Nasdaq: WEST) will showcase its end-to-end beverage solutions at the National Association of Convenience Stores (NACS) show from October 2-4 in Las Vegas, NV. The Company aims to strengthen partnerships with convenience stores and travel centers by presenting new insights-driven products designed to enhance consumer engagement and operational efficiency. Westrock is the largest private label coffee and tea provider to U.S. convenience stores, supplying over 20 million cups daily. The Company also commits to sourcing 100% of its coffee and tea responsibly by 2025.
Westrock Coffee Company (NASDAQ: WEST) announced participation in two investor conferences. The Benchmark Consumer Conference in New York on September 7, 2022, where CEO Scott Ford and CFO Chris Pledger will meet investors. The Wells Fargo Consumer Conference in Dana Point, CA, will take place on September 21-22, 2022, also featuring one-on-one meetings with management. Westrock Coffee specializes in integrated coffee, tea, flavors, extracts, and ingredient solutions, serving diverse industries globally.
Westrock Coffee Company has successfully closed its business combination with Riverview Acquisition Corp., raising approximately $300 million in equity and accessing $350 million in debt capital. The company’s common stock begins trading on Nasdaq under the symbol “WEST.” The funds will be used to repay existing debt and support growth initiatives. CEO Scott Ford emphasized the significance of this transition in expanding their market presence, while Riverview's CEO R. Brad Martin joins Westrock Coffee's Board. Westrock serves over 20 million coffee cups daily, being a leader in private label coffee.