Black Gun Coffee New York Stock Exchange Listing: $1.7 Billion Roadshow PPT Exposure

Lei Jianping reported on February 10

Black Rifle Coffee, a black gun brand, today completed a merger with special purpose company Silver Box Engaged Merger Corp I and listed on the New York Stock Exchange for $1.7 billion.

Through the transaction, Black Rifle Coffee could receive $225 million in cash to support the company's growth, including increasing brand awareness to grow a direct-to-consumer business; expanding its ready-to-drink product line and broadening distribution channels; investing in enhancing the company's technology infrastructure, including its e-commerce platform and mobile app capabilities; and helping to support continued hiring of veterans.

After the transaction was completed, the new company was named BRC Inc.

Black Rifle Coffee is a coffee company headquartered in Salt Lake City, Utah, UNITED States, founded by American veteran Evan Hafer and two veterans serving in Afghanistan and Iraq, providing quality coffee services to veterans, active military personnel and first responders.

Black Rifle Coffee has the support of Donald Trump Jr., the eldest son of former U.S. President Donald Trump.

In addition to selling coffee, Black Rifle Coffee also offers to sell everyday items printed with gun decorations, such as hats, T-shirts, etc., which accounted for more than 15% of sales in 2020.

Black Rifle Coffee reaches customers through multiple channels – including direct-to-consumer business, mobile through ready-to-drink business, within the community of the company's retail "Outpost" store, and wholesale business.

Black Rifle Coffee had revenue of $82 million in 2019, $164 million in 2020 and is expected to be $230 million in 2021, up 40% from the year-ago quarter and 40% gross margin.

Black Rifle Coffee expects revenue of $311 million in 2022 and $430 million in 2023, compared to gross profit of $129 million and $187 million, respectively, for the same period.

Tim Hortons China is also listing as a special purpose vehicle.

In August 2021, "Canadian National Coffee" Tim Hortons decided to send its China business ("Tim Hortons China") to the United States for listing.

Tim Hortons China, which is valued at approximately US$1.688 billion (approximately RMB10.933 billion), including debt, will bring in US$345 million in cash to the new company, which will be valued at US$2.033 billion overall.

After the merger, Tim Hortons China's existing shareholders hold 80.2%, SPAC shareholders hold 16.4% and Sponsor holds 3.4%.

The following is the Black Rifle Coffee roadshow PPT (residing processing):

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