Agreement with Tempus Realty Partners to
Develop 530,000 Square Foot Distribution Center
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.
Forward-Looking Statements
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230131005683/en/
Media: Tempus Marketing Specialist: Olivia Heritage –
oheritage@tempusrealty.com ICR for Westrock Coffee:
WestrockPR@icrinc.com
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