SAN ANTONIO — Black Rifle Coffee Company (BRCC) announced they will be merging with SilverBox-Engaged, a merger corp based out of Austin, and will be going public.
BRCC said the business deal will place up to $225 million on the company's balance sheet. The company is said to be valued as a pro forma enterprise of approximately $1.7 billion.
The coffee company was founded and led by veterans and supports first responders, active duty military members and veterans.
BRCC said they are a highly scalable platform that is gaining market share and financial strength --- with projected gross margins of 40%.
BRCC said they are donating more 530,000 shares which would be valued at more than half a million dollars and it will be donated to bettering the lives of veterans.
The CEO and founder of BRCC, Evan Hafer, said in part, "this combination will provide the capital BRCC needs to grow, serve great coffee, and move us closer to our goal of hiring 10,000 Veterans as we open more stores nationwide.”
Part of the company's revenue comes from selling their coffee beans in stores nationwide.