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Black Rifle Coffee Company (BRCC) is a veteran-founded coffee company. The company was founded in 2014 by Evan Hafer, a Green Beret. BRCC is a mission-focused company committed to supporting veterans, active-duty military, and first responders. BRCC has targeted the $28B coffee category as its serviceable addressable market. Our military is the most respected institution in the country according to Gallup polls. Veterans are 7% of the population while the active-duty military is less than 0.5%. Half of the company’s employees are veterans. BRCC also gives preference to veteran-owned businesses as vendors and suppliers. The company's three-pronged growth strategy is driving 30%+ top-line growth.
BRCC is merging with Silver Box Engaged Merger Corp. (SBEA), a SPAC. The merger is expected to be completed in the first half of Q1. With $300M of commitments from investors, there is good visibility of SBEA de-SPACing in Q1.
Our investment themes for the call are as follows:
