Westrock Coffee announces additional $25m equity investment

The financing follows a $75m investment from HF Capital and the Herbert Hunt family in June 2023 | Photo credit: Westrock Coffee

Westrock Coffee has received $25m investment from the Arkansas Teacher Retirement System (ARTRS) to support its ongoing expansion efforts. 
 

ARTRS provides retirement benefits to state school teachers in Arkansas, with a primary focus on public pension funds. 

The investment follows a $75m equity investment from HF Capital and the Herbert Hunt family in June 2023. Both deals are expected to close by the end of August 2023. 

The Arkansas-based coffee roaster said the funding will enable it to expand its extracts and RTD facility in the state, which is due to commence operations in the first quarter of 2024. 

“We are excited to announce today’s decision by ARTRS to invest $25m in Westrock Coffee, which adds to the $75m equity investment we announced last month committed by HF Capital, one of our original investors, and the Herbert Hunt family, a new investor. The additional capital from ARTRS will support our continued strategic efforts to expand our extracts and RTD business at our Conway, Arkansas facility which remains the gateway to future EBITDA expansion and a key enabler of future growth,” said Scott T. Ford, CEO and Co-founder, Westrock Coffee. 

Phases 1 and 2 in the construction of Westrock Coffee’s extracts and RTD facility consist of high-speed can and glass bottle lines, a multi-serve bottle line, and bag-in-box and bulk lines.  

The new investment will also enable Westrock Coffee to introduce two additional can lines alongside ‘an industry leading product development lab and FDA certified pilot plant'. 

Westrock Coffee achieved 10% year-on-year sales growth to $205m in the three months ended 31 March 2023.