Financial and Capital Markets Advisor
Riverview Acquisition Corp.
M&A Advisory
Has Merged With
Transaction Details
- On April 4, 2022, Riverview Acquisition Corp. (Nasdaq: RVAC) (“Riverview”) announced a business combination with Westrock Coffee Holdings, LLC (“Westrock Coffee,” or the “Company”)
- The transaction values the combined company at a pro forma enterprise value of approximately $1.086 billion at $10 per share, representing 1.1x projected 2022 revenues and approximately 14.5x projected 2022 Adjusted EBITDA
- The transaction includes $250 million in common stock PIPE commitments at $10 per share. Westrock Coffee’s existing shareholders are rolling 100% of their shares into the combined company
- The transaction is expected to close by the end of the third quarter of 2022. Upon closing, the combined company will be named Westrock Coffee Company and is expected to be listed on the Nasdaq under the ticker symbol “WEST”
- Proceeds are expected to accelerate the Company’s build-out of the United States’ largest roasting to ready-to-drink facility, as well as the Company’s further expansion into Europe, Asia Pacific, and the Middle East in support of its blue-chip customers
About the company
Riverview Acquisition Corporation
Riverview Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Management is led by Chief Executive Officer R. Brad Martin, President Charles K. Slatery, and Chief Financial Officer Will Thompson.
Westrock Coffee Holdings, LLC
Westrock Coffee Holdings, LLC 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 retail, food service and restaurant, convenience store and travel center, non-commercial account, CPG, and hospitality industries around the world. With offices in 10 countries, the Company sources coffee and tea from 35 origin countries.
Sources: Company filings, including Company 8-K, and Company press release.
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