U.S. Conservative-Themed Black Rifle Coffee Company Goes Public with SPAC
Posted on 03/17/2022
As large tech companies start to alienate the “conservative” political base, U.S. consumers on the right-side of the spectrum are putting their dollars elsewhere.
Black Rifle Coffee Company (NYSE:BRCC) is a U.S. veteran-controlled company serving coffee, content and merchandise to active military, veterans, first responders, and “those who love America.” Shares of Black Rifle Coffee began trading publicly earlier this month. BRCC stock took over from special purpose acquisition company (SPAC) SilverBox Engaged Merger Corporation.
Consumer product companies are finding new avenues to tap new customer bases.
Black Rifle Coffee Company sells coffee primarily through a subscription model. They own two roasting facilities, one focused on large batch roasting and the other on small batch roasting. The coffee beans are primarily roasted in-house in the United States. Revenue increased to US$ 233 million for the year ended December 31, 2021, from US$ 164 million for the year ended December 31, 2020, and from US$ 82 million for the year ended December 31, 2019, representing growth of 42% and 100% respectively. Growth in 2021 was primarily driven by expansion of their customer base, increasing Wholesale doors, and new Outpost openings. Revenue is driven primarily by their Direct to Consumer channel which contributed to approximately 71%, 84% and 90% of their total revenue in 2021, 2020 and 2019, respectively. Black Rifle Coffee operates out of facilities and offices in Salt Lake City, Utah; Manchester, Tennessee; and San Antonio, Texas.
