January 31, 2023
Agreement with Tempus Realty Partners to Develop 530,000 Square Foot Distribution Center
LITTLE ROCK, Ark.--(BUSINESS WIRE)--Jan. 31, 2023-- Westrock Coffee Company (Nasdaq: WEST) (“Westrock Coffee,” or the "Company”), a leading integrated coffee, tea, flavors, extracts, and ingredients solutions provider to the retail, foodservice and restaurant, convenience store and travel center, non-commercial, CPG, and hospitality industries, announced today an agreement to develop a 530,000-square-foot distribution center with Tempus Realty Partners, an Arkansas-based real estate investment partnership that was represented by Colliers | Arkansas. The 30-acre site is conveniently located near heavily trafficked I-40 in Conway, just 30 miles from Little Rock.
The tilt-wall distribution center will be fully occupied by Westrock Coffee following construction, which is expected to be completed by the end of 2023. The state-of-the-art development is expected to support product and packaging produced at Westrock Coffee’s expanded extract and ready-to-drink manufacturing facility in Conway, Arkansas, as well as additional distribution needs. The center will feature 36-foot clear height, approximately 72 dock doors and an ESFR sprinkler system. The distribution center will be located off William J. Clark Drive, approximately 2.2 miles from Westrock Coffee’s current manufacturing facility and recently announced expansion project.
"We are thrilled to announce the construction of our state-of-the-art distribution center, which will allow us to more efficiently and effectively serve our customers with our innovative beverage solutions,” said Joe T. Ford, co-Founder and Chairman of Westrock Coffee. “This new facility is a testament to our commitment to meeting the growing demand for our products and providing the highest level of service to our valued clients. We look forward to continuing to expand our presence in Central Arkansas, and drive Westrock Coffee’s growth and success in the industry."
“Westrock Coffee continues to invest in our operations, and the announcement of this new distribution center is further proof of our commitment to expand our business,” said Will Ford, Group President – Operations of Westrock Coffee. “In tandem with the development of our manufacturing facility, this center will enhance our capabilities and help our customers continue to innovate in the beverage space, which is undergoing seismic shifts in consumption preferences. With this distribution center, we are truly excited to further cement Westrock Coffee’s connection to the Conway community.”
“Working with an outstanding company like Westrock Coffee that has a tremendous heritage of growth and impact globally and in Arkansas is a real pleasure,” said Dan Andrews, Tempus Realty Partners CEO. “We’re proud to have the opportunity to support their continued expansion in our home state.”
Westrock Coffee is the beverage industry’s “brand behind the brands”, supplying the world’s most recognized brands with the world’s most transformative coffee, tea, flavors, extracts, and ingredients products. The Company is the #1 private label coffee and tea provider to U.S. restaurants by volume, and the #2 extract provider in ready-to-drink coffee.
Westrock Coffee was represented in the agreement by Ted Dickey of Lighthouse Asset Advisors.
About Westrock Coffee Company
Westrock Coffee is a leading integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the U.S., providing coffee sourcing, supply chain management, product development, roasting, packaging, and distribution services to the retail, foodservice and restaurant, convenience store and travel center, CPG, non-commercial, and hospitality industries around the world. With offices in 10 countries, the Company sources coffee and tea from 35 origin countries. For more information, please visit WestrockCoffee.com.
About Tempus Realty Partners
Tempus Realty Partners is an investor-centric real estate investment partnership focused on acquiring and developing commercial real estate mainly in the South and Midwest. The strategy of Tempus is to create superior risk adjusted returns via unique commercial real estate opportunities by investing with its network of partners in targeted cities. To date, Tempus has acquired $756,920,610 of property in 24 states over the past six years.
Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended from time to time. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, certain plans, expectations, goals, projections, and statements about the benefits of the build-out of the Company's Conway, Arkansas extract and RTD facility, the plans, objections, expectations, and intentions of Westrock Coffee, the anticipated benefits of the Company’s distribution center, and other statements that are not historical facts. These statements are based on information available to Westrock Coffee as of the date hereof, and Westrock Coffee is not under any duty to update any of the forward-looking statements after the date of this communication to conform these statements to actual results. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of the management of Westrock Coffee as of the date hereof and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and should not be relied on by an investor, or others, as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Westrock Coffee. These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, changes in domestic and foreign business, market, financial, political, and legal conditions; risks relating to the uncertainty of the projected financial information with respect to Westrock Coffee; risks related to the rollout of Westrock Coffee's business and the timing of expected business milestones; the effects of competition on Westrock Coffee's business; the ability of Westrock Coffee to issue equity or equity-linked securities or obtain debt financing in the future; the risk that Westrock Coffee fails to fully realize the potential benefits of acquisitions or has difficulty successfully integrating acquired companies; the availability of equipment and the timely performance by suppliers involved with the build-out of the Conway, Arkansas manufacturing facility and distribution center; the loss of significant customers; and those factors discussed in Westrock Coffee’s registration statement on Form S-1, which was deemed effective by the United States Securities and Exchange Commission (the “SEC”) on December 21, 2022, under the heading “Risk Factors”, and other documents Westrock Coffee has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Westrock Coffee does not presently know, or that Westrock Coffee currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, the forward-looking statements reflect Westrock Coffee's expectations, plans, or forecasts of future events and views as of the date of this communication. Westrock Coffee anticipates that subsequent events and developments will cause Westrock Coffee's assessments to change. However, while Westrock Coffee may elect to update these forward-looking statements at some point in the future, Westrock Coffee specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as a representation of Westrock Coffee's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230131005683/en/
Tempus Marketing Specialist: Olivia Heritage – firstname.lastname@example.org
ICR for Westrock Coffee: WestrockPR@icrinc.com
Source: Westrock Coffee Company
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