Westrock Coffee, with its primary processing facility just off Maumelle Boulevard, announced this week that it would be a publicly traded company after striking a deal with Riverview Acquistion Corp.
In the announcement Westrock said they have an annual estimated revenue of $960 million for this year and the company is valued at approximately $1.086 billion.
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Westrock said that going public would allow for additional financing as they looked to expand in international markets like Europe and Asia.
The company will be traded on Nasdaq under “WEST” as its ticker symbol.
Not bad for a company founded by Scott Ford, who was essentially bored after selling Alltel Wireless to Verizon, and looking for something to do.
Westrock said it sells more than 20 million cups of coffee a day as the company is known as the “brand behind the brands” as it sells primarily to food service, restaurant and convenience stores, among others, as it is the largest custom and private label coffee company in the United States.
Little Rock’s Stephens Inc. is serving as Financial and Capital Markets Advisor on the deal.
The Westrock facility in North Little Rock is at 30 Collins Industrial Place and directly behind the New Asian Chinese restaurant on the Boulevard.