Farmer Brothers stockholders approve Royal Cup acquisition

Farmer Brothers Coffee Co. (NASDAQ: FARM) announced that its stockholders approved the proposed acquisition by Royal Cup during a special meeting held May 1, according to a company statement.

Royal Cup must complete the transaction by May 6, subject to remaining customary closing conditions outlined in the acquisition agreement. Upon completion, Farmer Brothers will become a private company and its shares will no longer trade on the NASDAQ Global Select Market.

"We are pleased by the support shown by our stockholders for the combination of these two great companies," said Farmer Brothers President and Chief Executive Officer John Moore in the statement.

The Fort Worth, Texas-based company operates as a coffee roaster, wholesaler and distributor of coffee, tea and related products. Founded in 1912, Farmer Brothers serves customers ranging from independent restaurants to large institutional buyers including restaurant chains, hotels, healthcare facilities and grocery chains.

Royal Cup Coffee & Tea, established in 1896, manufactures and distributes coffee and tea products throughout the United States, Mexico and the Caribbean. The company serves the foodservice, hospitality, office and specialty coffee markets.

"Farmer Brothers and Royal Cup have long shared a commitment to quality and excellence," said Royal Cup President and Chief Executive Officer Chip Wann in the statement.

The companies did not disclose financial terms of the acquisition in the announcement.

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