The veteran-owned coffee chain will use the Whitehawk Capital Partners funding to scale wholesale operations, expand its coffee shop network and refinance existing debt
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BRCC posted 39% year-on-year total sales growth in the second quarter to reach $92m | Photo credit: Black Rifle Coffee Company
Utah-based Black Rifle Coffee Company (BRCC) has received a $56m credit facility from Los Angeles-based private credit firm Whitehawk Capital Partners.
The coffee chain, which actively promotes support for veterans, law enforcement and first responders, will use the financing to fund outlet growth, wholesale distribution and refinance existing debt.
“The proceeds of the financing will be beneficial to our long-term capital structure as we look to support our continued growth driven by our increased brand awareness. Black Rifle Coffee has been pleased working with WhiteHawk Capital Partners in the acquisition of this credit facility and we look forward to our continued partnership in the future,” said Chris Mondzelewski, President, Black Rifle Coffee.
BRCC CEO Evan Hafer said the brand has ‘never been stronger’ following robust second quarter sales.
The veteran-owned coffee chain posted 39% year-on-year total sales growth in the three months ended 30 June 2023 to reach $92m. BRCC’s wholesale channel achieved 109% sales growth to reach $50m, while revenues from its 17-store outlet network grew 35% to $7.4m.
WhiteHawk Capital Partners launched in January 2021 with a focus on providing asset-based financing solutions to middle market businesses in need of growth capital.