Black Rifle's recent announcement will help the company fulfill its commitment of hiring 10,000 veterans.
In 2014, former Green Beret Evan Hafer founded Black Rifle Coffee Co. (BRCC), a veteran-owned company focused on supporting veterans, active-duty military, law enforcement, first responders, and the American way of life by providing “explosive” roast profiles. The company gives back to the community with every purchase made.
Hafer had an explosive career himself, having served downrange in the Army Special Forces (Green Berets) for 15 years, contracting and consulting with various entities throughout his career. In short, he was in the thick of it serving our country as a top-tier operator in some of the world’s most unforgiving environments.
The Black Rifle Coffee Company brings the same mission focus they learned overseas to execute their mission of providing high-quality coffee and supporting their community. They import high-quality coffee beans from Columbia and Brazil and roast five days a week at Manchester, Tennessee, and Salt Lake City, Utah.
The History of BRCC
Evan Hafer’s connection with coffee is more profound than simply founding a business that provides high-quality coffee and making a profit from it, which he started recreationally, giving his roasted beans to friends.
In BRCC’s video “It’s who we are,” Hafer explains that during his time overseas, he would take small-batch roasted coffee with him and modify gun trucks during the invasion of Iraq so that they could grind coffee and run it through a French press. His team members would wake up in the morning to the sound of him grinding coffee. Hafer and his team leader made a daily ritual of “cheers” with their coffee, fostering a bond over what he describes as “something as insignificant as brown water.” To him, there is no better start to a day than a good cup of coffee.
Since Black Rifles launch, the company has grown to seven storefronts. The companies first brick-and-mortar store opened in Boerne, Texas, in January 2020. The first corporate-owned and operated store opened in San Antonio in October of 2020.
What is unique about Black Rifle Coffee Company (BRCC) is their approach to not only employing veterans (roughly 50% of their 600 employees) but the content of their lifestyle blog, Coffee or Die. BRCC’s blog highlights the stories of veterans and active-duty military, providing dialogue to current issues faced by those deployed and covering their achievements at home. Their content has struck a chord within the community as they boast over 41 million views on YouTube and more than a million followers on Instagram.
Black Rifle Coffee Stock
In a recent announcement, Black Rile Coffee is going public in a SPAC merger with SilverBox-Engaged (SBEAU). This merger gives the company a valuation of $1.7 billion, aiding their mission to grow their direct-to-consumer business by expanding the ready-to-drink product line, broadening distribution, and increasing their storefront footprint from the current seven locations to a target of 78 in 2023. They also plan to enhance the company’s tech infrastructure. All of which will help support their efforts of meeting their goal of hiring 10,000 veterans.
SPACs, though not new, have emerged over the last two years as the preferred avenue for going public. As a blank check firm, SPACs have no commercial operations and raise money through an IPO with intentions of a merger to bring a company public, such as Black Rifle Coffee Company. After a deal is announced, the company's financials are released for review. Once approved by regulators and the deal is closed, the private company, in this case, BRCC, will replace the SPAC on the stock market. Once the deal closes, the company will be renamed BRC Inc., according to the Wall Street Journal.
BRCC highlights the merger with the SilverBox-Engaged team is a strategic advantage due to their expertise in relevant industries and helping companies grow. SilverBox-Engaged is fully committed to the mission of supporting the veteran, active-duty military, and first-responder communities and is partnering with BRCC to donate over 530,000 shares to their new company foundation, the BRCC Fund.
The funds’ mission is “dedicated to serving and defending the principles of our country” by supporting veterans, first responders, and their families while helping conserve the great American outdoors. The fund will develop and support programs to communicate, educate, entertain, and inspire those within their community.