Proven Industry Leader and U.S. Army Veteran
Will Support Existing Management Team’s Ongoing Implementation of
Omnichannel Growth Strategy
BRC Inc. (NYSE: BRCC) (“Black Rifle Coffee,” “BRCC” or the
“Company”), a rapidly growing and mission-driven premium coffee
company founded to support veterans, active-duty military and first
responders and serve a broad customer base by connecting consumers
with great coffee and an omnichannel brand experience, today
announced that its Board of Directors (the “Board”) has appointed
Roland Smith as Executive Chairman, effective immediately. Mr.
Smith assumes the chairmanship from Founder Evan Hafer, who is
continuing to serve as Chief Executive Officer and a Board member.
The Board has expanded Mr. Smith’s role so he can work more closely
with Mr. Hafer and co-Chief Executive Officer and Board member Tom
Davin to capture growing demand for the Company’s products and
pursue enhanced value for shareholders, customers and the important
stakeholders that Black Rifle Coffee serves.
Mr. Hafer commented:
“As we continue to encounter more customer demand and expand
across new sales channels, we’re committed to building the best
possible team to serve Black Rifle Coffee’s growing community.
Roland has been a great partner to our management team since
joining the Board. His experience operating at the highest levels
of the consumer-packaged goods, fast casual and retail sectors has
positioned us to pursue new paths to expansion and value creation.
Additionally, his background as a veteran of our nation’s armed
forces has helped him fully understand and support our mission. By
appointing Roland as Executive Chairman, the Board is making it
easier for him to work seamlessly with Tom, myself and others on
growth initiatives, the build-out of our outposts and B2B channel,
and other efforts that support our mission.”
Mr. Smith added:
“I’m honored that my fellow directors have entrusted me with the
executive chairmanship during this exciting time in Black Rifle
Coffee’s history. Additionally, I’m looking forward to working even
closer with Evan, Tom and the entire organization to support the
Company’s tremendous growth trajectory and important mission. I see
significant opportunities for us to reach more customers through
new channels and additional distribution points. Given my
experience and relationships across the sector, I’m confident I can
help our incredibly talented team realize that potential in the
quarters and years to come.”
Roland Smith Biography
Roland Smith is a proven leader in the consumer-packaged goods,
fast casual and retail sectors and has spent more than two decades
serving as a Chief Executive Officer and Chairman of both public
and private companies. Mr. Smith has been a member of Black Rifle
Coffee’s Board since it became a public company. He has a strong
track record growing revenue, increasing profits, managing complex
integrations and transforming companies for future success.
Mr. Smith is currently Chairman of the Board of Jack’s Family
Restaurants, Inc. and Director of Caliber Inc. He previously served
as Chairman and Chief Executive Officer of Office Depot, Inc.,
President and Chief Executive Officer of Delhaize America, LLC, the
U.S. division of Delhaize Group, President and Chief Executive
Officer of Wendy’s/Arby’s Group, Inc., Chief Executive Officer of
Wendy’s International, Inc., and Chief Executive officer of Arby’s
Restaurant Group Inc. Additionally, Mr. Smith was Chairman of the
Board of Carmike Cinemas, Inc., and a Director of Dunkin’ Brands
Inc.
Mr. Smith is a graduate of the U.S. Military Academy at West
Point and served in the U.S. Army in the Transportation and
Aviation Corps as a platoon leader, executive officer, deputy
director of Army programs, aviation maintenance officer and
pilot.
About BRC Inc.
Black Rifle Coffee Company (BRCC) is a veteran-founded coffee
company serving premium coffee to people who love America. Founded
in 2014 by Green Beret Evan Hafer, Black Rifle Coffee develops
their explosive roast profiles with the same mission focus they
learned while serving in the military. BRCC is committed to
supporting veterans, active-duty military, first responders and the
American way of life.
To learn more about BRCC, visit www.blackriflecoffee.com, follow
BRCC on social media, or subscribe to Coffee or Die Magazine's
daily newsletter at https://coffeeordie.com/presscheck-signup.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking
statements include statements about the Company’s expectations,
beliefs, plans, objectives, intentions, assumptions and other
statements that are not historical facts. The words “anticipate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “intends,”
“may,” “might,” “plan,” “possible,” “potential,” “predict,”
“project,” “should,” “will,” “would” and similar expressions may
identify forward-looking statements, but the absence of these words
does not mean that a statement is not forward-looking. Actual
results may differ materially due to various factors. The following
include some but not all of the factors that could cause actual
results or events to differ materially from those anticipated,
including failure to recognize the anticipated benefits of the
business combination, which may be affected by, among other things,
competition and our ability to grow and manage growth profitably
and retain our key employees; negative publicity impacting our
brand and reputation, which may adversely impact our operating
results; failure by us to maintain our message as a supportive
member of the veteran and military communities and any other
factors which may negatively impact the perception of our brand;
our limited operating history, which may make it difficult to
successfully execute our strategic initiatives and accurately
evaluate future risks and challenges; failed marketing campaigns,
which may cause us to incur costs without attracting new customers
or realizing higher revenue; failure to attract new customers or
retain existing customers; risks related to the use of social media
platforms, including dependence on third-party platforms; failure
to provide high-quality customer experience, which may impact our
brand; decrease in success of the direct to consumer revenue
channel; loss of one or more of co-manufacturers; failure to
effectively manage or distribute our products through our wholesale
business partners; failure by third parties involved in the supply
chain of coffee, store supplies or merchandise to produce or
deliver products; changes in the market for high-quality Arabica
coffee beans and other commodities; fluctuations in costs and
availability of real estate, labor, raw materials, equipment,
transportation or shipping; loss of confidential data from
customers and employees, which may subject us to litigation,
liability or reputational damage; failure to successfully compete
with other producers and retailers of coffee; failure to
successfully open new retail coffee shops; failure to properly
manage our rapid growth and relationships with various business
partners; failure to protect against software or hardware
vulnerabilities; failure to build brand recognition using our
intellectual properties; shifts in consumer spending, lack of
interest in new products or changes in brand perception upon
evolving consumer preferences and tastes; failure to adequately
maintain food safety or quality and comply with food safety
regulations; failure to successfully integrate into new domestic
and international markets; risks related to leasing space subject
to long-term non-cancelable leases and with respect to real
property; failure of our franchise partners to successfully manage
their franchise; failure to raise additional capital to develop the
business; risks related to the COVID-19 pandemic, including supply
chain disruptions; the loss of one or more of our executive
officers and other key employees; failure to hire and retain
qualified employees; failure to meet our goal of hiring 10,000
veterans; risks related to unionization of employees; failure to
comply with federal state and local laws and regulations; resales
from time to time of a significant portion of our shares held by
selling holders; and inability to maintain the listing of our Class
A Common Stock on the New York Stock Exchange. For additional
information about the factors that could cause actual results to
differ materially from forward-looking statements, please see the
Company's documents filed with the Securities and Exchange
Commission (the “SEC”), including our Quarterly Report on Form 10-Q
for the three months ended March 31, 2022 filed on May 12, 2022 and
our Annual Report on Form 10-K for the year ended December 31, 2021
filed on March 16, 2022. You should not place undue reliance on
forward-looking statements, which speak only as of the date of this
release. Except as is required by law, the Company expressly
disclaims any obligation to publicly release any revisions to
forward-looking statements to reflect events after the date of this
release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220712006133/en/
Investor Tanner Doss:
IR@BlackRifleCoffee.com ICR for BRCC: BlackrifleIR@icrinc.com
Media Longacre Square Partners Greg
Marose / Charlotte Kiaie, 646-386-0091 gmarose@longacresquare.com /
ckiaie@longacresquare.com
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