7 Years in the Making, Black Rifle Coffee Company Is Officially Public
Black Rifle Coffee Company has been serving great coffee and content with a foundation of humor, patriotism, and inspiration ever since Evan Hafer started the company back in 2014.
Today, BRCC followed through on the next step in its evolution, becoming a publicly traded company.
Photo by Lauren Warner/BRCC Blog.
“We have one group to thank, and that is our customers,” Hafer said. “The CEO doesn’t drive the company; the customer does. Without them, we are nothing. The customers are committed to the people who served our country, those who give us the freedom to start a company that allows us to serve those who serve.”
“Our goal is to invest profit for purpose,” Hafer said. “We’re able to lead, inspire, and serve those who serve in an ethical way, which allows us to continue to grow BRCC into the largest, most purpose-driven company in the world.”
Back in November 2021, BRCC announced its intent to go public through a special acquisition merger with SilverBox Engaged Merger Corp.
“Some people look at companies through a spreadsheet. I’m looking at how I can create more positivity in our employees’ and customers’ lives,” Hafer said. “This is one step in a really long journey. If we create the right culture with the right inertia, we’ll all eventually reap the benefit of what we’re trying to accomplish.”
“Serving great coffee and culture to people who love America is still our passion while keeping our focus on supporting the veteran, law enforcement, and first responder communities,” a company statement posted on social media reads. “In fact, this will be an important step toward reaching our goal of employing 10,000 veterans and sharing in the success of the company by creating an opportunity for our supporters to invest in BRCC.”
“From the time I was a one-man operation in my garage with nothing more than a 1-pound roaster, I wanted to use coffee as a means of bringing people together around the common idea of honoring those who serve this great nation,” Hafer said. “We founded Black Rifle Coffee to serve the highest-quality coffee while supporting veterans and their families.”
Photo by Luke Ryan/Black Rifle Coffee Company.
BRCC plans to reorganize as a public benefit corporation to reinforce and drive its mission of serving veterans, law enforcement, and first responders. The majority of the company’s directors are veterans themselves.
As if the vision for the company weren’t clear enough on paper, Black Rifle Coffee and SilverBox Engaged Merger Corp. are jointly donating 530,000 shares to the BRCC Fund. This donation will support the fund’s mission to “serve and defend the principles of our country, supporting veterans, first responders, and their families while helping conserve the great American outdoors.”
BRCC’s growth allows it to reach its community of consumers through subscriptions and non-subscription sales, outpost coffee shops (both company-operated and franchised), and wholesale products. With more than 280,000 active Coffee Club subscribers and seven outposts, BRCC’s footprint is increasing; this transition caters to its 1.9 million lifetime consumers — and all of those BRCC hopes to reach in the coming years.
Veterans account for about 7% of the US population, but their underemployment rate is higher than that of the overall population. They suffer from more mental health issues, with approximately 20 veterans committing suicide every day and around 50,000 experiencing homelessness. Hafer’s goal of employing 10,000 veterans is meant to help combat the veteran underemployment rate, and the move to go public will quicken BRCC’s growth and enable the company to hire more vets.
Photo by Lauren Warner/BRCC Blog.
BRCC already donates coffee to active-duty service members, makes philanthropic donations to community organizations, and offers employment, educational, and training support for veterans. A portion of BRCC’s profits is donated directly to law enforcement, firefighter, and first responder causes.
“As a company and individually, we’ve been working with a number of veterans organizations who are providing help, but now, going public as a public benefit corporation will allow us to do so much more,” Hafer said. “I am grateful for SBEA’s partnership and shared vision, because together we will increase our philanthropic efforts, create more jobs for veterans, and help them become business owners. This is why we started Black Rifle Coffee.”
“I will never back down from my love and devotion to my country,” Hafer said. “We should always remember that, together, we have built something truly beautiful in the most iconic, American way.”
To learn more about BRCC becoming a publicly traded company, visit http://www.blackriflecoffee.com/pages/announcement. For information for investors, visit http://www.blackriflecoffee.com/pages/investor-relations.
