BRCC - Westrock Coffee to go public through deal with SPAC Riverview Acquisition

Westrock Coffee agreed to go public through a deal with SPAC Riverview Acquisition Corp. (NASDAQ:RVAC). RVAC rose 0.8% in premarket trading. The transaction values the combined company at a pro forma enterprise value of about $1.09 billion, according to a statement. The deal is expected to deliver about $500 million in gross proceeds and includes $250 million in PIPE commitments from investors including the family investment office of the Haslams, who are part owners of truck-stop operator Pilot Co. and owners of the National Football League’s Cleveland Browns. Westrock Coffee currently said provides over 20 million cups of coffee to the world daily. The company describes itself as the largest custom/private label coffee and tea provider to restaurants in the U by volume, and the second largest coffee extract provider in ready-to-drink coffee. The PIPE commitments includes funding from R. Brad Martin, NFC Investments and $78 million each from HF Capital, the Haslam family

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Westrock Coffee to go public through deal with SPAC Riverview Acquisition