Riverview Acquisition in an S-4 filing outlined plans for its proposed merger with Westrock Coffee Holdings in a deal that values the company at approximately $1.086 billion.
If approved, the transaction would deliver approximately $500 million in gross cash proceeds to the combined company (which assumes no redemptions), including PIPE commitments funded by $60 million from R. Brad Martin, NFC Investments and the other Riverview Acquisition founders, $25 million from Westrock Coffee founders, and $78 million each from HF Capital, the Haslam family investment office, and funds managed by Southeastern Asset Management.
Upon closing Westrock Coffee is expected to list on the Nasdaq under the ticker symbol WEST.
As part of the transaction, all of Westrock Coffee’s existing shareholders will roll 100% of their shares into the new Company and, assuming no redemptions from Riverview shareholders, will hold approximately 53% of the combined company on closing.
Westrock Coffee has also secured a financing commitment from Wells Fargo for a $300 million credit facility.
Westrock Coffee is an integrated coffee, tea, flavors, extracts, and ingredients company in the U.S., providing coffee sourcing, supply chain management, product development, roasting, packaging, and distribution services to retail, food service and restaurant, convenience store and travel center, non-commercial account, CPG, and hospitality industries around the world. With offices in 10 countries, the company sources coffee and tea from 35 origin countries. Read more.
