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Farmer Brothers Company

Farmer Brothers Company (FARM)

2.82
0.11
(4.06%)
Closed July 13 4:00PM
2.82
0.00
(0.00%)
After Hours: 5:32PM

Calls

StrikeBid PriceAsk PriceLast PriceMidpointChangeChange %VolumeOPEN INTLast Trade
2.500.000.650.000.000.000.00 %00-
5.000.050.050.050.050.000.00 %011-

Professional-Grade Tools, for Individual Investors.

Puts

StrikeBid PriceAsk PriceLast PriceMidpointChangeChange %VolumeOPEN INTLast Trade
2.500.000.100.000.000.000.00 %00-
5.002.002.750.002.3750.000.00 %00-

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FARM Discussion

View Posts
limer814 limer814 1 year ago
Pretty close to $5 right now and getting closer
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make it happen make it happen 1 year ago
And what does that mean in the long run lmao will never touch 5 again unless does a R/S when gets to 20 cents.
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luckydude777 luckydude777 1 year ago
Analyst will upgrade to $5.00+ ... watch.
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make it happen make it happen 1 year ago
Have ops in all directions if played right. I just believe this will be a fader over time to under a buck.
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luckydude777 luckydude777 1 year ago
Short?
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make it happen make it happen 1 year ago
Now it's basically a pipe dream and will burn all the capital.
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make it happen make it happen 1 year ago
Agreed, sold its money maker. Now doesn't have much...
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TheFinalCD TheFinalCD 1 year ago
NICE NEWS BUT DONT DONT BET THE $FARM
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subslover subslover 1 year ago
CONGRATS! Farmer Brothers announces agreement to sell direct ship business and Northlake, Texas facility to TreeHouse Foods
Approximately $100 million sale expected to advance the company’s transformation plan and commitment to direct store delivery sector
NORTHLAKE, Texas, June 07, 2023 (GLOBE NEWSWIRE) -- Farmer Brothers Company (NASDAQ: FARM), a leading roaster, wholesaler, equipment servicer and distributor of coffee, tea and other allied products, announced today it has entered into a definitive agreement to sell its direct ship business, including its Northlake, Texas facility to TreeHouse Foods, Inc. for approximately $100 million, subject to customary purchase price adjustments.

The company expects to use the proceeds from the sale to pay down outstanding debt associated with its asset-based lending (ABL) and retire its term loan. The sale will increase Farmer Brothers’ balance sheet flexibility and allow it to focus on execution, improving margins and driving strategic growth in the direct store delivery (DSD) and key account sales channels.

“Exiting the direct ship space will allow us to focus almost exclusively on DSD, which is our most profitable and highest growth potential business, while also assuring our valued direct ship customers are well-served by a national leader,” said Farmer Brothers President and Chief Executive Officer Deverl Maserang. “With a sole focus on DSD, we will be able to realize even greater internal efficiencies and cost savings, while also better serving our largest, most profitable customer base.”

The sale is subject to customary closing conditions and is currently expected to close within the next 60 days. It will include the transition of approximately 180 Farmer Brothers team members to TreeHouse Foods as TreeHouse Foods moves to begin operations at the Northlake, Texas facility.

At closing, Farmer Brothers will transition the entirety of its DSD production operations to its Portland, Oregon roasting and production facility and will continue existing relationships with third-party roasters for additional capacity. The company’s corporate headquarters will remain in Northlake, Texas, where it will continue to lease office space at its current location. Farmer Brothers’ DSD business sells coffee, tea, spices and breakfast/brunch products through a wholly owned national network of 80 independent branches, five distribution centers and nearly 240 routes, reaching 45,000 delivery points annually. Following the sale of its Northlake, Texas facilities, Farmer Brothers expects its annual revenue will be approximately $350 million with vastly improved product margins.

“Our shift to a DSD-focused organization will allow us to further increase internal efficiency, decrease our operational cost and allow us to enjoy higher margins,” said Farmer Brothers Chief Financial Officer Scott Drake. “In addition, proceeds from the sale will allow us to solidify our financial position by recapitalizing the company, which gives us flexibility to explore additional growth opportunities.”

Winston & Strawn LLP is acting as Farmer Brothers’ legal advisor for the transaction.

About Farmer Brothers
Founded in 1912, Farmer Brothers is a national coffee roaster, wholesaler, equipment servicer and distributor of coffee, tea and culinary products. The company’s product lines, include organic, Direct Trade and sustainably produced coffee. With a robust line of coffee, hot and iced teas, cappuccino mixes, spices and baking/biscuit mixes, Farmer Brothers delivers extensive beverage planning services and culinary products to its U.S.-based customers. It serves a wide variety of customers, from small independent restaurants and foodservice operators to large institutional buyers, such as restaurant, department and convenience store chains, hotels, casinos, healthcare facilities and gourmet coffee houses, as well as grocery chains with private brand coffee and consumer branded coffee and tea products, and foodservice distributors.

Headquartered in Northlake, Texas, Farmer Brothers generated net sales of $469.2 million in fiscal 2022. The company’s primary brands include Farmer Brothers, Artisan Collection by Farmer Brother, Superior, Metropolitan, China Mist and Boyd’s.

About TreeHouse Foods
TreeHouse Foods, Inc. is a leading private label food and beverage manufacturer in North America. Our purpose is to engage and delight – one customer at a time. Through our customer focus and category experience, we strive to deliver excellent service and build capabilities and insights to drive mutually profitable growth for TreeHouse and our customers. Our purpose is supported by investment in depth, capabilities and operational efficiencies, which are aimed to capitalize on the long-term growth prosp
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fishhunter fishhunter 1 year ago
Inflection point is now for the company. I am buying as much as I can.
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fishhunter fishhunter 2 years ago
Calendar year 2023 will be very good for FARM. Coffee prices have plummeted. Activist investors in control.
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fishhunter fishhunter 2 years ago
Big volume yesterday, big move up in price is coming.
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fishhunter fishhunter 2 years ago
And more today! Should get PR next week with earnings date.
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fishhunter fishhunter 2 years ago
And I continue to buy!
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fishhunter fishhunter 2 years ago
I have begun to buy. One way or another the stock is near its all time century low. CEO and BOD taking correct actions as evidenced by the gross margin . Read the latest cc transcript and look what will
Happen to valuation metrics as restaurant industry improves post covid.
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whytestocks whytestocks 5 years ago
News: $FARM Farmer Brothers (FARM) Q1 2020 Earnings Call Transcript

Image source: The Motley Fool. Farmer Brothers   (NASDAQ: FARM) Q1 2020 Earnings Call Nov 07, 2019 , 5:00 p.m. ET Rachel Goldman Continue reading

Read the whole news FARM - Farmer Brothers (FARM) Q1 2020 Earnings Call Transcript
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wiltonio wiltonio 7 years ago
WELLINGTON MANAGEMENT GROUP LLP has filed a new 13G, reporting 10.11% ownership in $FARM - https://fintel.io/so/us/farm and https://fintel.io/i/wellington-management-group-llp
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ValueInvestor15 ValueInvestor15 8 years ago
5 Manufacturing Stocks with 25% Upside Potential: FARM

Full Analysis
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NathanH NathanH 10 years ago
Test
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