Farmer Bros. Co. Releases 2020 Sustainability and Direct Trade Impact Reports
June 14 2021 - 9:00AM
Farmer Bros. Co. (NASDAQ: FARM) (the “Company”) released its 2020
Sustainability Report and 2020 Direct Trade Impact Report today.
The report articulates the Company’s 2020 achievements and offers
data supporting its continued commitment to leading the coffee
industry in sustainable sourcing, production and trading.
Since Farmer Brothers formally began its
sustainability journey several years ago, the company has made
great strides in its key initiatives. Notably, the Company achieved
significant milestones in 2020:
- Roasted nearly 32 million pounds of
fully traceable green coffee;
- Diverted 75% of waste away from
landfills and achieved zero-waste status on 100% of the company’s
roasting facilities each year since 2018;
- Restored 9,000 pieces of commercial
brewing equipment per year on average, with 75% of components
recovered;
- Reduced overall carbon dioxide
emissions by 11% compared to 2019.
“Our commitment to quality coffee and service
goes hand in hand with our commitment to sustainability, which is a
three-part equation encompassing Social, Environmental, and
Economic Development,” said Deverl Maserang, President & CEO.
“We call that SEED – which is not a program, but a framework for
how we approach our sustainability practices. We believe that each
of these parts is inextricably intertwined with the others. If we
falter on one, we cannot be champions of the others. This year has
been a challenge on so many levels, but Farmer Brothers’ grounding
in that concept of sustainability has kept our focus clear. As we
pivoted to rethink our business model and adapt to the
pandemic-impacted environment, we evaluated whatever we did against
all three parts of the sustainability equation.”
As demonstrated by years of investment in
sustainable practices, Farmer Brothers has stayed true to its
guiding principles around service, quality and corporate
responsibility, supporting the long-term relationships the company
has built over the years with coffee growers, partners and
customers. The company continues to build sustainable practices
into the fabric of the organization, from coffee farmers and
producers at origin while enforcing transparency throughout the
supply chain.
Farmer Brothers’ full Sustainability and Direct
Trade Impact Reports, including issue briefs and GRI data, can be
viewed
here: https://www.farmerbros.com/blog/case-studies/2020-sustainability-report/.
About Farmer Brothers
Founded in 1912, Farmer Bros. Co. is a
national coffee roaster, wholesaler, 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, the Company delivers extensive beverage
planning services and culinary products to its U.S. based
customers. The Company serves a wide variety of customers, from
small independent restaurants and foodservice operators to large
institutional buyers like 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.
Forward-Looking Statements
Certain statements contained in this press
release are not based on historical fact and are forward-looking
statements within the meaning of federal securities laws and
regulations. These statements are based on management's current
expectations, assumptions, estimates and observations of future
events and include any statements that do not directly relate to
any historical or current fact. These forward-looking statements
can be identified by the use of words like “anticipates,”
“estimates,” “projects,” “expects,” “plans,” “believes,” “intends,”
“will,” “could,” “assumes” and other words of similar meaning.
Owing to the uncertainties inherent in forward-looking statements,
actual results could differ materially from those set forth in
forward-looking statements. The Company intends these
forward-looking statements to speak only at the time of this press
release and does not undertake to update or revise these statements
as more information becomes available except as required under
federal securities laws and the rules and regulations of the
Securities and Exchange Commission (“SEC”). Factors that could
cause actual results to differ materially from those in
forward-looking statements include, but are not limited to, the
success of the Company's turnaround strategy, the adequacy and
availability of capital resources to fund the Company’s existing
and planned business operations and the Company’s capital
expenditure requirements, our ability to provide sustainability in
ways that do not materially impair profitability, changes in the
strength of the economy, business conditions in the coffee industry
and food industry in general, as well as other risks described in
this report and other factors described from time to time in our
filings with the SEC.
Marketing Contact
Nathalie Oetzel noetzel@farmerbros.com
Investor Relations Contact
Ellipsis Jennifer Milan & Kyle
KingInvestor.relations@farmerbros.com (646) 776-0886
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