WhiteHawk Capital Partners, LP ("WhiteHawk"), a private credit investment manager focused on asset-based financing solutions, announced it has entered into an agreement with Black Rifle Coffee Company, LLC (“Black Rifle Coffee”) to provide a $56 million asset-based credit facility (the "Financing"). Black Rifle Coffee will use the proceeds of the Financing to provide incremental liquidity for continued growth and refinance existing debt.
Black Rifle Coffee is a veteran-owned and operated seller of coffee, coffee accessories, and branded apparel. The Company sells products through three channels: DTC, wholesale, and its coffee shop locations referred to as “Outposts.” The Company bolsters its DTC channel through a robust subscription model that has over 239k subscription-based customers as of June 2023.
“The proceeds of the Financing will be beneficial to our long-term capital structure as we look to support our continued growth driven by our increased brand awareness. Black Rifle Coffee has been pleased working with WhiteHawk Capital Partners in the acquisition of this credit facility and we look forward to our continued partnership in the future,” said Chris Mondzelewski, President of Black Rifle Coffee.
“We believe Black Rifle Coffee is well positioned to continue its impressive growth,” said Brad Huge, WhiteHawk Managing Director. “We are excited to work with a Company that supports meaningful initiatives for veterans and first responders and delivers high-quality coffee products.”
About WhiteHawk:
WhiteHawk Capital Partners, LP is a private credit investment manager focused on asset-based financing solutions primarily to middle market private and public companies across a variety of industries. WhiteHawk provides senior secured financings under a variety of structures for purposes of refinancing, recapitalization, growth, acquisition, restructuring, bridge, and DIP/emergence. For more information, visit www.whitehawkcapital.com.
About Black Rifle Coffee:
Black Rifle Coffee Company is a Veteran-founded coffee company serving premium coffee to people who love America. Founded in 2014 by Green Beret Evan Hafer, Black Rifle 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230824476206/en/
Contacts
For WhiteHawk:
For all inquiries: info@whitehawkcapital.com
For Black Rifle Coffee:
IR for BRCC: IR@blackriflecoffee.com
PR for BRCC: press@blackriflecoffee.com
