Farmer Bros. (FARM) to Buy Sara Lee's Direct-Store Delivery Coffee Business For $45 Million
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Farmer Bros. Co. (Nasdaq: FARM) announced a definitive agreement to acquire from Sara Lee Corp. (NYSE: SLE) its U.S. direct-store delivery (DSD) Foodservice coffee business.
The $45-million acquisition is expected to nearly double Farmer Bros. revenue, extend its reach to all 48 mainland states and make it the nation's largest direct-store delivery business for coffee and allied products.
"This acquisition will allow us to quickly achieve our long-term goals of coast-to-coast market penetration, cost reductions and margin improvements as a result of economies of scale, and improved returns on our invested capital," said Rocky Laverty, Chief Executive Officer of Farmer Bros. Co. "This is a once-in-a-lifetime opportunity for Farmer Bros.
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Farmer Bros. Co. is an institutional coffee roaster that sells a variety of coffee and allied products to the food service industry and private-label customers such as retailers.
Sara Lee (NYSE: SLE) delights millions of consumers and customers around the world.
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